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 Friday, April 13, 2018.

  • Bar 1 - Small gu, 3-week island bottom, but bear bars, should close gu, always in short 
  • Bar 2 - Consecutive bear bars, but not big and both have big tails. Always in short, but not strong sell the close. Bull want opening reversal up from high of yesterday, but probably will need to get closer to the moving average 
  • Bar 3 - Opening reversal at yesterday's high, but always in short, sellers above or probably sellers at the high of the bar scaling in higher should test moving average 
  • Bar 5 - Consecutive bear bars, sell the close for test of moving average. Possibly outside down bar day 
  • Bar 7 - Big bear bar below the moving average, which should test close of yesterday and possibly outside down bar 
  • Bar 9 - Opening reversal up from  yesterday's close, always in bears can exit above and sell again bthe elow bear bar, OK to buy or for a long scalp 
  • Bar 11 - Yesterday's close, always in short bears sell or short again for test low of yesterday 
  • Bar 13 - Parabolic wedge 2 9 double bottom low of yesterday, big bull bar close on high, always in bears can exit above and sell again below the bear bar, ok buy or long but tight channel so minor trend reversal so trading range more likely, probably test of moving average, possibly 11 high. Since failed outside down bar, possible low of day, but low probability so swing or wait 
  • Bar 14 - One legged pullback in a bear move, always in short, but low probability so swing only or wait sell or short since double bottom 13 and low of yesterday. Still buy above or probably buyers at the high of the bar 13 for possible low of day, but low probability so swing or wait 
  • Bar 17 - Two-legged pullback in a bear move, ok swing sell or short, but probably reversal day if new low 
  • Bar 20 - Wedge 9 13, two bar reversal, ok swing buy or long for possible low of the day, but low probability so swing or wait, but trading range more likely than bull trend since tight channel 


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