E-mini S&P falls while making lower-low

Brooks Price Action - 03-12-2013 Tuesday

pending chart 1937

Fail, failure breakout high of yesterday, higher high major trend reversal, possible triangle final flag, lower low major trend reversal

  • Tuesday, March 12, 2013
  • Bar 1 - Yesterday ended with expanding triangle and double top. Bear bar, middle of tight trading range, tail so buyers below or buy below
  • Bar 2 - Double bottom but doji. Wait
  • Bar 3 - Micro double top but bull bar. Wait
  • Bar 6 - Micro double bottom, bull bar, close above moving average, 1t tail. Possible low of the day. Ok swing but not yet high probability
  • Bar 8 - Bull follow through after bull breakout, 4 consecutive bull bars, always in long, buyers below or buy below
  • Bar 9 - 1t fail, failure breakout double top, but doji, 6 bars up, 4 consecutive bull bars, always in long so buyers below or buy below
  • Bar 12 - Bull outside bar surrounded by inside bars but second entry sell high of yesterday. Still expanding triangle top 49 64, so higher high major trend reversal. Bull scalpers will exit below and maybe swing bulls. Bull body, always in long so better to not sell or short yet
  • Bar 13 - Big bear bar, close on low, more down
  • Bar 14 - 2 consecutive strong bear bars. Bulls are exiting. Not yet always in short, but trying
  • Bar 16 - Micro double bottom and double bottom 6. Another bear bar close on low. Should get bear breakout. Bulls will try to exit with small loss above
  • Bar 18 - Micro double top 15. Should get bear breakout
  • [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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