Daily Price Action: E-mini S&P 500

Al Brooks provides bar-by-bar analysis on a five-minute chart of the previous day’s price action in the E-mini S&P 500. This is his analysis for Monday, Tuesday, Nov. 21, 2017.

  • Bar 1 - Big gu, close on high, buy the close, 25% chance low of the day 
  • Bar 2 - Follow through bull bars, buy the close, buy below or probably buyers at the low of the bar scaling in lower 
  • Bar 5 - Fail, failure breakout high of yesterday and all time high, but 1 tick bear bars, t1bl, buy below or probably buyers at the low of the bar scaling in lower 
  • Bar 6 - One legged pullback in a bull move, always in long, but 3 dojis, possible pullback or tight trading range soon 
  • Bar 7 - Fail, failure breakout high of yesterday second entry sell but 4 dojis, only 1 small bear bars so far, buy below or probably buyers at the low of the bar scaling in lower 
  • Bar 8 - Two legged pullback in a bull move 6, always in long, strong bull trend 
  • Bar 13 - Two legged pullback in a bear move 5, parabolic wedge 4 11, close on low, possible high of day, but low probability so swing or wait, ailbe, but still always in long, minor trend reversal so trading range more likely, buy below or probably buyers at the low of the bar scaling in lower 
  • Bar 14 - Breakout pullback buy or long, small pullback bull trend, always in long, ok buy or long but doji, and possible 3rd leg up in parabolic wedge 
  • Bar 18 - Breakout pullback buy or long but parabolic wedge, small bars, possible sellers above or probably sellers at the high of the bar scaling in higher 
  • Bar 20 - Nested wedge, third leg is smaller wedge 4 13 16, close on low, possible high of day, but low probability so swing or wait, but small pullback bull trend, minor trend reversal so trading range more likely, probably tight trading range sideways to down soon 
  • Bar 24 - One legged pullback in a bull move but tight trading range, better to wait for a strong bull breakout, or more buying pressure and second entry buy, probably limit order market, sellers scaling in above, buyers below, both scalping 


More bar-by-bar analysis, daily webinar and trading course info can be 
found here and also here.