Daily Price Action: E-mini S&P 500

Al Brooks provides bar-by-bar analysis on a five-minute chart of the previous day’s prices action in the E-mini S&P 500. This is his analysis for Monday, October 26, 2015.

  • Bar 1 - Two legged pullback in a bull move 72 but always in short, no bull body, probably sell above or sellers at the high of the bar and probably scaling in higher
  • Bar 2 - Breakout pullback sell or short but many prominent tails so low probability so swing only or wait, swing only, possible buy below or buyers at the low of the bar and probably scaling in lower
  • Bar 3 - Close on low, sell the close, but small bars, yesterday trading range, so probably bear leg in trading range
  • Bar 5 - Two legged pullback in a bull move 72, higher low 44, bull body, but trend from the first bar bear so probably sell above or sellers at the high of the bar and probably scaling in higher. Possible low of the day, but low probability so swing only or wait buy or long
  • Bar 6 - Breakout pullback sell or short but bottom of yesterday trading range, possible buy below or buyers at the low of the bar and probably scaling in lower
  • Bar 7 - Micro double bottom, bear bar, sell above or sellers at the high of the bar and probably scaling in higher, probably tight trading range
  • Bar 10 - Double bottom, higher low low of yesterday, possible low of the day, ok swing buy or long, but tight trading range
  • Bar 18 - Wedge 8 12 17, lower high, 50% pullback, but probably always in long and buy below or buyers at the low of the bar and probably scaling in lower and higher low. Limit order market, sellers scaling in above, buyers below, both scalping
  • Bar 21 - Lower high, wedge bear flag second entry sell, but tight trading range, small trading range day
  • Bar 25 - Higher low major trend reversal second entry buy but outside up bar bar just below moving average, limit order market, sellers scaling in above, buyers below, both scalping, probably sell above or sellers at the high of the bar and probably scaling in higher
  • Bar 26 - Breakout pullback buy or long but tight trading range, bad for scalping with stop entries unless using swing stop

 

 

The S&P 500 emini’s dominant price action feature of today was the trading range day. For today’s real-time update, see intraday market update. For more on the current S&P 500 and emini weekly charts, see weekly market update.

 

[more Bar-by-Bar Analysis, Daily Webinar and Trading Course info at www.brookspriceaction.com and www.brookstradingcourse.com]

About the Author

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 Pri