E-mini S&P trudges higher

Brooks Price Action - 02-19-2013 Tuesday

pending chart 1896

Trend from the first bar bull, small pullback bull, spike and channel bull

  • Tuesday, February 19, 2013
  • Bar 1 - Small bull bar, open on low so odds favor trading below soon.
  • Bar 2 - Fail, failure breakout but doji. Probably buyers below or buy below and always in long
  • Bar 3 - Breakout pullback buy or long but doji. Might be 1fbb. Wait
  • Bar 4 - Breakout, more up, always in long
  • Bar 5 - Bull follow through but big tail so sideways likely
  • Bar 7 - Bear two inside bars, two legged pullback in a bear move 2, but tight channel 64. Better to wait for second entry sell or buy or long pullback
  • Bar 9 - One legged pullback in a bull move but after consecutive buy climax so better to wait. Tight trading range likely
  • Bar 12 - Double top but tight trading range so bad for stop entry scalps. Only one strong bar today so not strong rally. Buy or long near moving average
  • Bar 14 - Breakout pullback buy or long, bull trading range, but tight trading range so bad for scalps on stops. Always in long so ok swing, but should get closer to moving average
  • Bar 16 - Bear bar, close on low, fail, failure breakout double top, room to moving average, but tight trading range. Might be ok scalp but better to wait. Ok swing for possible high of the day, but better to wait until always in short
  • Bar 20 - Five tick failure fail, failure, small two legged pullback in a bull move 18 so bears will exit. Still always in long so ok buy or long for swing. Not quite to moving average so might go more sideways. Targets above
  • [more Bar-by-Bar Analysis, Daily Webinar and Trading Course info at www.brookspriceaction.com and www.brookstradingcourse.com]
About the Author
Al Brooks

Al Brooks, M.D., is author of the Brooks Trading Course (27 hours of videos at BrooksTradingCourse.com), several books on Price action (Reading Price Charts Bar by Bar: The Technical Analysis of Price Action for the Serious Trader, Wiley, 2009, and the 500,000 word, three-book series, Trading Price Action, Wiley, 2012), and numerous articles in Futures Magazine. He also provides live intraday E-mini price action analysis and free end-of-day analysis on www.brookspriceaction.com.

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