Stock market price action trends higher: Brooks

Brooks Price Action for Tuesday, June 25

pending chart 2165

Higher high major trend reversal, or, possible triangle, trend resumption from yesterday, final flag

  • Tuesday, June 25, 2013
  • Bar 1 - Higher high major trend reversal, gap above high of yesterday and to 60 minute 20 bar exponential moving average but small doji so buyers at the low of week of the bar and probably scaling in lower sellers at the high of the bar and probably scaling in higher
  • Bar 2 - Big reversal bar but bear body, doji, at resistance = 60 minute 20 bar exponential moving average, high of yesterday. Breakout mode. Probably sellers at the high of the bar and probably scaling in higher
  • Bar 3 - Higher high major trend reversal second entry sell, micro double top, second entry sell high of yesterday. Ok swing for high of the day, but bull body so lower probability
  • Bar 4 - Close on low, room to moving average, more dow
  • Bar 6 - Bull reversal bar or, two legged pullback in a bull move at moving average but body small compared to 4 5 so probably sellers at the high of the bar and probably scaling in higher. Lp swing buy or long
  • Bar 7 - Bull bar but tails. Tight trading range no scalping with stops. Wait
  • Bar 9 - Two legged pullback in a bear move but tight trading range no scalping with stops. Wait
  • Bar 11 - Or, two bar revresal, wedge 6 8, ok swing but better to wait
  • Bar 12 - Double top 7 but probably buyers at the low of week of the bar and probably scaling in lower for 2 small legs up from wedge. Possible low of the day
  • Bar 14 - Bull breakout, always in long, ok swing
  • Bar 15 - Bear body, weak follow through, but probably always in long and more up. Stop below 14
  • [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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