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, June 7, 2018.

  • Bar 1 - 1 gu after yesterday buy climax, 75% chance of two hours of d starting by end of the second hour 
  • Bar 2 - One legged pullback in a bull move, but in buy climax since 76 so probably early high of the day soon 
  • Bar 5 - Parabolic wedge 78, 1, possible high of day, but low probability so swing or wait, always in bulls can exit below and buy again above bull bar, ok sell or short 
  • Bar 6 - One legged pullback in a bull move, always in long, but bear bar, parabolic wedge top, sellers above or probably sellers at the high of the bar scaling in higher, better to wait for a strong bull breakout, or more buying pressure and second entry buy 
  • Bar 7 - Buy the close buy or long four giving up 
  • Bar 8 - Surprise bar down, at least a little more down likely, possible high of day, but low probability so swing or wait, more down, but might bounce to 7 low, first 
  • Bar 9 - Two-legged pullback in a bull move six, at moving average, double bottom lower low two, test close of yesterday, but bear bar, always in short, sellers above or probably sellers at the high of the bar scaling in higher, better to wait for a strong bull breakout, or more buying pressure and second entry buy. Trading range day more likely than bear trend, but probably five will remain high of yesterday or high for next three hours 
  • Bar 10 - One legged pullback in a bear move, always in short but two dojis at support, probably buy below or probably buyers at the low of the bar scaling in lower nine
  • Bar 12 - One legged pullback in a bear move, 76 buy climax low target below, but doji 
  • Bar 13 - Big bear bar, room to target below 
  • Bar 15 - Tick fail, failure breakout 76 buy climax low, wedge 1, 9, parabolic wedge 6 probability, possible low of day, but low probability so swing or wait, always in bears can exit above and sell again below bear bar, trading range likely 


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