E-mini S&P 500 price action and technical pattern analysis: Brooks

Brooks Price Action Analysis of Thursday, July 25

pending chart 2242

Lower low major trend reversal, trend from the first bar bull, double bottom, final flag top, wedge bull flag

  • Thursday, July 25, 2013
  • Bar 1 - Bear bar but tail. 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 - Lower low major trend reversal. Since buyers at the low of week of the bar and probably scaling in lower 1, probably ba 2. Small bull reversal bar low of yesterday, possible low of the day
  • Bar 4 - Big bull bar, close on high, always in long
  • Bar 5 - Follow through, more up
  • Bar 6 - Two legged pullback in a bear move 1 at moving average but always in long, trend from the first bar bull, buyers at the low of week of the bar and probably scaling in lower. Possible one bar final flag and sellers at the high of the bar and probably scaling in higher
  • Bar 8 - Wedge 1 5 but trend from the first bar bull so better to wait to buy or long pullback. Might go sideways into possible triangle at moving average, but yesterday had 4 hour trading range so might test bottom around 50 low
  • Bar 9 - Breakout pullback buy or long but doji and wedge top. Probably sellers at the high of the bar and probably scaling in higher. Look to buy or long pullback, stop below 2
  • Bar 14 - Higher low major trend reversal but 3 strong bear bars so probably sellers at the high of the bar and probably scaling in higher. Wait for second entry buy or strong bull breakout.
  • Bar 20 - Close below 14, breakout, but tail. Might get two legged pullback in a bull move. Still always in long but trading range now more likely than bull
  • Bar 21 - Follow through, more down. Trading range day likely. Less likely, bear
  • Bar 24 - Bull inside bar, double bottom 2, but 5 bear bars. Low probability so swing buy or long. Better to wait for second entry buy. Big up, big down, trading range day more likely than bear
  • [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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