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 prices action in the E-mini S&P 500. This is his analysis for Tuesday, March 13, 2018.

  • Bar 1 - Double top high of yesterday, bear bars, possible high of day, but low probability so swing or wait, but tails, better to wait 
  • Bar 2 - Big bull bar, breakout high of yesterday, always in long, possible low of day, but low probability so swing or wait, but not yet a high probability 
  • Bar 4 - Fail, failure breakout high of yesterday, possible high of day, but low probability so swing or wait, but tail below, 2 big bull bar, always in long, buy below or probably buyers at the low of the bar scaling in lower. Since reasonable to sellers above, or probably sellers at the high of the bar scaling in higher 1, might test 1 high 
  • Bar 5 - Bear bars close on low, ok swing sell or short for possible high of day, but low probability so swing or wait, but probably buy below or probably buyers at the low of the bar scaling in lower around 1 high 
  • Bar 6 - 3 consecutive bear bars, 2 with close on low, more down, always in short, but probably buy below or probably buyers at the low of the bar scaling in lower low of the day and trading range open so mostly a limit order market 
  • Bar 7 - New low but tail. Also, buy the close scale in bulls 3 did not have a micro double top, so odds are they will get a bounce that will allow them to avoid a loss 
  • Bar 9 - Two inside bars, opening reversal double bottom 2, possible low of day, but low probability so swing or wait, but room to moving average and Feb 27 high, sellers above or probably sellers at the high of the bar scaling in higher around 4 low and 3 close, trading range open so mostly a limit order market likely 
  • Bar 11 - Lower high, fail, failure breakout high of yesterday second entry sell, always in short, but strong 10, probably buy below or probably buyers at the low of the bar scaling in lower. Might test 8 high for scale in bears 
  • Bar 12 - Big bear bar, probably new low of the day 
  • Bar 14 - Two legged pullback in a bull move 9, fail, failure breakout double bottom, probably limit order bull scalpers have been making money so should get 1 tick above 7 low. Always in short, scale in bears above. Too many bear bars in 2 legs so bull day unlikely. Either trading range day or bear day, and possibly outside down bar 
  • Bar 16 - One legged pullback in a bear move, always in short, ok sell or short but possible double bottom at the Feb 27 high 



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