E-mini S&P reverses course after lower-low

Brooks Price Action - 03-25-2013 Monday

pending chart 1966

Final flag top, lower low major trend reversal, higher low major trend reversal

  • Monday, March 25, 2013
  • Bar 1 - Gap up, bear bar, possible high of the day but tight channel 78 so better to wait for second entry sell, targets just above on cash daily
  • Bar 2 - Two bar revresal, breakout pullback buy or long, ok swing buy or long for low of the day, but lp. Better to wait
  • Bar 6 - Fail, failure breakout, but 3 bull bars so buyers below or buy below.
  • Bar 7 - Missed all time high close on cash index by less than 1 profit target. Should get there this week or so, but might be high of the day
  • Bar 9 - Second entry sell, fail, failure breakout, but 6 bar tight trading range, small bars so lp swing sell or short. Better to wait. 50% chance 1 is low of the day or 7 is high of the day
  • Bar 11 - Bear breakout. Should test low of the day and moving average. Yesterday = tight trading range so possible final flag top
  • Bar 12 - Bear follow through. Probably need 1 more bar for always in short since still might be double bottom low of the day
  • Bar 13 - Bull reversal bar, fail, failure breakout, but 1t body. Probably always in short.
  • Bar 14 - Breakout, probably measuring gap for test 60 minute 20 bar exponential moving average
  • Bar 15 - Follow through, more down
  • Bar 16 - Bear body but tail and just above moving average. Better to sell or short rallies than closes since tail and near support. Don�t buy or long
  • [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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