Daily E-mini S&P 500 analysis

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, July 9, 2018.

  • Bar 1 - 1 gu, close on high, buy the close, but 60min parabolic wedge so yesterday trading range might be final flag 
  • Bar 2 - Consecutive bull body but smaller body, tail. Still, buy the close but far above moving average and better to buy or long lower 
  • Bar 4 - Fail, failure breakout high of yesterday, final flag yesterday tight trading range, possible high of day, but low probability so swing or wait, micro double top, but 2 dojis, consecutive bull body, scale in bulls buy below or probably buyers at the low of the bar scaling in lower 
  • Bar 7 - Bear inside bar, fail, failure breakout high of yesterday second entry sell, possible high of day, but low probability so swing or wait 
  • Bar 10 - Fail, failure breakout low of the day, double bottom 1, possible low of day, but low probability so swing or wait, but 8 bar bear micro channel, better to wait for a strong bull breakout, or more buying pressure and second entry buy 
  • Bar 13 - 4 consecutive bars without bear body, always in long, buy below or probably buyers at the low of the bar scaling in lower, small pullback bull trend 
  • Bar 15 - One-legged pullback in a bull move, small pullback bull trend, measuring gap 13 high 
  • Bar 20 - One-legged pullback in a bull move but bear body, 11 bar bull microchannel so buy climax, limit order bears will sell above and scale in higher. Still always in long. Higher high major trend reversal but 11 bar bull microchannel, minor trend reversal so trading range more likely, buy below or probably buyers at the low of the bar scaling in lower 
  • Bar 23 - Parabolic wedge 16, 19, 21, possible high of day, but low probability so swing or wait, but 14 bblmb, minor trend reversal so trading range more likely, tight trading range likely 
  • Bar 25 - One legged pullback in a bull move, always in long, 1st pullback in microchannel, ok buy or long but three bear body, parabolic wedge, tight trading range likely, probably sellers above or probably sellers at the high of the bar scaling in higher high of the day, stop order bears making money so trading range soon 
  • Bar 29 - Double top but tight trading range, always in long, buy below or probably buyers at the low of the bar scaling in lower around moving average, possibly measuring gap 25 low and 3 high, small pullback bull trend 
     


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