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, Aug. 14, 2018.

  • Bar 1 - 1 gu from yesterday double bottom 44, 77, breakout above neck line 61, but tail, middle of yesterday range, 60-minute, 20-bar exponential moving average resistance just above, possibly limit order market, sellers scaling in above, buyers below, both scalping 
  • Bar 2 - Breakout pullback buy or long but bear body, limit order market, sellers scaling in above, buyers below, both scalping 
  • Bar 4 - Big bear bar, close on low, room to moving average, low of last week, close of yesterday, possible high of day, but low probability so swing or wait, ok sell or short, but tight trading range so possibly more sideways 
  • Bar 5 - Two legged pullback in a bull move 2, but still on sell or short below 4 and room to close of yesterday and low of last year 
  • Bar 8 - Wedge opening reversal up from moving average, possible low of day, but low probability so swing or wait 
  • Bar 9 - Big entry bar, close on high, always in long, buy above or probably buyers at the high of the bar 
  • Bar 11 - Always in long, room to 60-minute, 20-bar exponential moving average 
  • Bar 13 - One legged pullback in a bull move, room to 60-minute, 20-bar exponential moving average, but bear body, possibly parabolic wedge 9, 12 
  • Bar 15 - One legged pullback in a bull move, but possibly parabolic wedge 12, 14. Small pullback bull trend 
  • Bar 16 - Big bar so buy climax, but small pullback bull trend, still broad channel 
  • Bar 19 - One legged pullback in a bull move, two inside bars, but buy climax 16, 17, close on low 18, just below high of yesterday, possibly sellers above or probably sellers at the high of the bar scaling in higher so only buy or long if wide stop and scale in, swing or scalp 


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