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 Wednesday, Aug. 15, 2018.

  • Bar 1 - 1 big gd, big bear bar, but far below moving average, only 20% chance of trend from the first bar 
  • Bar 2 - Big bull bar, possible low of day, but low probability so swing or wait 
  • Bar 3 - Breakout pullbacks, but far below moving average. Possible high of day, but low probability so swing or wait 
  • Bar 4 - Surprise bar down, at least a little more down likely, more down 
  • Bar 8 - Parabolic wedge 1, 4, but bear body, sellers above or probable sellers at the high of the bar scaling in higher 
  • Bar 9 - One-legged pullback in a bear move but bull body, possibly buy below or probably buyers at the low of the bar scaling in lower, low probability short, probably buyers below, and sideways more likely than down 
  • Bar 11 - Two-legged pullback in a bear move but tight trading range, bull body, far below moving average, low probability short, probably buyers below, and sideways more likely than down 
  • Bar 13 - Wedge 8, 10, but many dojis, minor trend reversal so trading range more likely. Always in bears can exit above and sell again below bear bar. Might enter trading range, or might get major trend reversal if there is strong minor trend reversal so trading range more likely up 
  • Bar 15 - Double-top bear flag, always in short, 2800 big round number (like 2100, 2200) magnet below, then Aug 2 low, but bottom of tight trading range 
  • Bar 18 - Wedge 8, 13, aiblm, always in bears can exit above and sell again below bear bar or above bull body, possible low of day, but low probability so swing or wait since b18, ok swing buy or long but higher probability to buy or long above bull 
  • Bar 19 - 18 bar range reversal, OK swing buy or long 


More bar-by-bar analysis, daily webinar and trading course info can be found here and also here

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