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, June 8, 2018.

  • Bar 1 - 1 bear doji in middle of yesterday trading range, limit order market, sellers scaling in above, buyers below, both scalping, sellers above or probably sellers at the high of the bar scaling in higher around close of yesterday and buy below or probably buyers at the low of the bar scaling in lower low of yesterday and 60-minute, 20-bar exponential moving average 
  • Bar 4 - Three inside bars in a row in yesterday trading range, limit order market, sellers scaling in above, buyers below, both scalping 
  • Bar 5 - Fail, failure breakout, close on high, possible low of day, but low probability so swing or wait, ok buy or long, but many will scalp out around moving average or close of yesterday since in yesterday trading range 
  • Bar 7 - Opening reversal down, two-legged pullback in a bear move at moving average, but low probability so swing only or wait sell or short, always in long, buy below or probably buyers at the low of the bar scaling in lower. Always in bulls can exit below and buy again above bull bar 
  • Bar 9 - Opening reversal down second entry sell, possible high of day, but low probability so swing or wait, but 1 tick bear doji 
  • Bar 10 - Breakout pullback buy or long, 5 tick trap, close on high, ok buy or long, but probably scalp 
  • Bar 11 - Wedge 1, 6 opening reversal down at moving average, possible high of day, but low probability so swing or wait, but only 1 tick doji, better to wait for a strong bear breakout, or more selling pressure and second entry sell 
  • Bar 12 - Close on low, ok swing sellers below or probably sellers at the low of the bar 
  • Bar 13 - Another big bear bar, possibly always in short, but most bear want 1 more bear bar since still possibly two-legged pullbacks in a bull move pullback from 5, 6 
  • Bar 14 - 4-bear bar, always in short, but bottom of trading range day 
  • Bar 15 - Double bottom 5 just above 60-minute, 20-bar exponential moving average and low of yesterday, bull bar, always in bears can exit above and sell again below bear bar, but 4 bear bar, always in short, better to wait for a strong bull breakout, or more buying pressure and second entry buy 


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