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 Monday, June 11, 2018.

  • Bar 1 - 1 bull bar, always in long, buy the close, tight channel, but doji, weak buy or long sellers below or probably sellers at the low of the bar, limit order bear scalpers above. Yesterday was spike and channel so likely test to bottom of channel 70 low within 2 hours. 10 consecutive bull bar 60 minimum or minutes so probably bear bar in 1st 2 hours
  • Bar 5 - Fail, failure breakout high of yesterday, bear two inside bars, close on low, possible high of day, but low probability so swing or wait. Tight channel so might need second entry sell. One legged pullback in a bull move but weak rally, bear bar, sellers above or probably sellers at the high of the bar scaling in higher
  • Bar 7 - One legged pullback in a bull move, double bottom 2, always in long, but 4 bear bar, weak rally, better to wait for a strong bull breakout, or more buying pressure and second entry buy
  • Bar 9 - Fail, failure breakout high of yesterday second entry sell but consecutive bull bar, always in long, buy below or probably buyers at the low of the bar scaling in lower
  • Bar 11 - One legged pullback in a bull move but top of tight trading range, odds favor bear bar on 60 minimum or minutes chart and test 70 low, so probably early high of the day. Better to wait for a strong bull breakout, or more buying pressure and second entry buy
  • Bar 12 - Higher high double top 3, micro double top, possible high of day, but low probability so swing or wait
  • Bar 14 - Second entry sell, close on low, ok swing sell or short
  • Bar 15 - Two legged pullback in a bull move, always in long, but doji, 4 bear bar, still on 14 sell or short, better to wait for a strong bull breakout, or more buying pressure and second entry buy
  • Bar 18 - Twenty gap bars buy or long, wedge 11 15, always in bears can exit above and sell again below bear bar, always in long, but 6 bear bar, 11 consecutive bull bar on 60 minimum or minutes, odds favor bear breakout and test 70 low. Might get 1 more new high 1st
  • Bar 21 - Wedge bull flag 15 17, twenty gap bars buy or long, but tight channel, endless pullback, low probability so swing only or wait buy or long
  • Bar 22 - Dbblf 6 at moving average, always in long, bull bar, 2nd bar up, ok buy or long, but possibly final flag