Analyzing yesterday's E-mini S&P 500 price action

Brooks Price Action Analysis of Wednesday, Sept. 12

pending chart 2314

Double top major trend reversal, double bottom pullback, final flag, lower high major trend reversal,

  • Wednesday, September 11, 2013
  • Bar 1 - Yesterday = tight trading range, double top major trend reversal. Doji, so sellers at the high of the bar and probably scaling in higher ba
  • Bar 3 - Since sa1, probably signal bar
  • Bar 4 - Close on low. Ok swing sell or short but tight trading range so ok to wait for breakout up and or down
  • Bar 6 - Breakout, but tail. Always in short for test low of yesterday
  • Bar 7 - Two legged pullback in a bull move, but tail, probably sellers at the high of the bar and probably scaling in higher
  • Bar 12 - Double bottom pullback from yesterday 2 28, wedge 1 6, but bear doji and tight channel. Better to wait for breakout
  • Bar 14 - Breakout pullback sell or short but bottom of trading range so low probability. Might be buyers at the low of week of the bar and probably scaling in lower for test low of yesterday, then breakout high of yesterday, since yesterday = small day
  • Bar 20 - Breakout, always in long, probably will breakout above high of yesterday, but trading range breakout so might not get far
  • Bar 22 - Fail, failure breakout, probably buyers at the low of week of the bar and probably scaling in lower since held low of yesterday and will probably get above hoy25 big breakout, more up
  • Bar 23 - Follow through but tail so might get pullback, but more up likely
  • Bar 25 - Big bull breakout high of yesterday, more up
  • [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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