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 Tuesday, June 12, 2018.

  • Bar 1 - 1 small doji, in yesterday tight trading range, big down, big up, big confusion so trading range likely, limit order market, sellers scaling in above, buyers below, both scalping, buy below or probably buyers at the low of the bar scaling in lower around close of yesterday, sellers above or probably sellers at the high of the bar scaling in higher around high of yesterday 
  • Bar 2 - Bear bar but tail, limit order market, sellers scaling in above, buyers below, both scalping, but always in short, might test close of yesterday. Yesterday is sell or short sellers below or probably sellers at the low of the bar on daily so might test below low of yesterday 
  • Bar 4 - Close below 3, 3 bear bar, no bull bar, should test close of yesterday 
  • Bar 6 - Higher low, close of yesterday, micro double bottom, possible low of day, but low probability so swing or wait, but six bar bear microchannel, no bull bar in six bars, better to wait for a strong bull breakout, or more buying pressure and second entry buy, always in short, probably sellers above or probable sellers at the high of the bar scaling in higher and above 1. Trading range open so mostly a limit order market 
  • Bar 7 - Big bull bar, higher lows and lower highs, possible triangle, limit order market, sellers scaling in above, buyers below, both scalping 
  • Bar 9 - Double top lower high 1 but5 bar bull microchannel, limit order market, sellers scaling in above, buyers below, both scalping, better to wait unless wide stop and scale in, swing or scalp 
  • Bar 10 - Double top, always in short, but big bear bar, tail, apex of possible triangle, better to wait 
  • Bar 13 - Double bottom higher low 5 but 3 bear bar, limit order market, sellers scaling in above, buyers below, both scalping, apex of possible triangle 
  • Bar 18 - Big bull bar, close on high, but top of possible triangle, higher probability to wait for a breakout. Breakout mode, bulls and bears scaling in, both swinging 
  • Bar 19 - Lower high but close above moving average 
  • Bar 22 - Fail, failure breakout below possible triangle, double bottom higher low 5, but doji, limit order market, sellers scaling in above, buyers below, both scalping, still in breakout mode, bulls and bears scaling in, both swinging 


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