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 Thursday, April 12, 2018.

  • Bar 1 - Gu, bull bars, always in long, but tail, testing high of yesterday, better to wait 
  • Bar 2 - Bear bars, possible high of day, but low probability so swing or wait, but doji, always in long, buy below or probably buyers at the low of the bar scaling in lower, better to wait for a strong bear breakout, or more selling pressure and second entry sell 
  • Bar 3 - Huge bull bars, more up 
  • Bar 4 - Fail, failure breakout high of yesterday, two legged pullback in a bear move, but bull bars, always in long, buy below or probably buyers at the low of the bar scaling in lower 
  • Bar 8 - One-legged pullback in a bull move, but parabolic wedge 1, 4, always in bulls can exit below and buy again above bull bar below 7 for possible high of day, but low probability so swing or wait 
  • Bar 10 - Bull outside bar surrounded by inside bars, always in long, but parabolic wedge, tight trading range, low probability so swing only or wait buy or long 
  • Bar 11 - Parabolic wedge second entry sell, possible high of day, but low probability so swing or wait, but bull bars, tight trading range, low probability so swing only or wait sell or short, limit order market, sellers scaling in above, buyers below, both scalping 
  • Bar 14 - Breakout pullback buy or long but 3 bear bars, should test six buy the climax low and the moving average, sellers above or probably sellers at the high of the bar scaling in higher 
  • Bar 17 - Breakout pullback sell or short but strong bt16 at moving average and high of yesterday, buy below or probably buyers at the low of the bar scaling in lower 
  • Bar 19 - Double bottom higher low, always in long, but minor trend reversal so trading range more likely after seven bear bars 
  • Bar 21 - Double top 15, but 2 bull bars at moving average, buy below or probably buyers at the low of the bar scaling in lower 


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