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 from Wednesday, Sept., 22, 2016.

• Wednesday, September 21, 2016
• Bar 1 - Fomc 11 am. Gap up but tail, just below high of yesterday, always in long
• Bar 2 - Bull body but doji, possible sellers above or probably sellers at the high of the bar scaling in higher
• Bar 4 - Micro double bottom 1, always in long, ok buy or long for low of the day
• Bar 8 - Fail, failure breakout high of yesterday, two legged pullback in a bear move 2, but 2t tail, 4 bull bars, buy below or probably buyers at the low of the bar scaling in lower. Possible high of the day so ok swing sell or short
• Bar 9 - Breakout pullback buy or long but bear doji, 4 bar tight trading range, high of yesterday. Still always in long, but limit order market, sellers scaling in above, buyers below, both scalping
• Bar 11 - Fail, failure breakout high of yesterday second entry sell but bull bar, tight trading range
• Bar 14 - Two legged pullback in a bull move but tight trading range, limit order market, bad for scalping with stop entries unless using swing stop
• Bar 15 - Fail, failure breakout tight trading range, but bull bar
• Bar 16 - Big bear bar, always in short, but close above 13 low and moving average so possible more sideways
• Bar 17 - No bull body so follow through selling, possible mmd to 60 minute 20 bar exponential moving average
• Bar 22 - Fail, failure breakout, probably bear leg in trading range and not in bear trend, parabolic wedge 13 16 but tight channel, minor trend reversal so trading range more likely
• [more Bar-by-Bar Analysis, Daily Webinar and Trading Course info at www.brookspriceaction.com and www.brookstradingcourse.com]