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 Thursday, November 30, 2017.

  • Bar 1 - Gu, open on low so probably will trade below low
  • Bar 2 - Fail, failure breakout high of yesterday, magnet below, possible high of day, but low probability so swing or wait, ok sell or short
  • Bar 3 - Breakout pullback buy or long, but doji, still on sell or short below 1
  • Bar 4 - Fail, failure breakout high of yesterday second entry sell, ok swing sell or short but early dojis, probably trading range open so mostly a limit order market
  • Bar 5 - Double bottom bull flag but bear bars, trading range open so mostly a limit order market, probably sellers above or probably sellers at the high of the bar scaling in higher and more sideways to down to maybe wedge bull flag near moving average. Still on sell or short below 2 and 4, but trading range open so mostly a limit order market so 50% chance of breakout above 1, then more trading range
  • Bar 9 - Fail, failure breakout high of the day, higher high major trend reversal, two legged pullback in a bear move 2, possible high of day, but low probability so swing or wait, but 4 bull bars, always in long, buy below or probably buyers at the low of the bar scaling in lower
  • Bar 12 - Higher high major trend reversal, second entry sell, close on low, ok swing sell or short for high of the day, but probably more trading range open so mostly a limit order market
  • Bar 15 - Double bottom 5, another test of gap below low of the day, ok buy or long
  • Bar 18 - Big breakout, more up, but possible trending trading range day since early small trading range
  • Bar 20 - Breakout pullback buy or long but tails, possible final flag and upper trading range
  • Bar 23 - Big bear bar, always in bulls can exit below and buy again above bull bar, probably start of upper trading range in trending trading range day


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