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Futures, E-Mini S&P 500, July 3rd 2014

Updated on July 3, 2014

5 Minute Analysis

E-Mini S and P 500

July 3th, 2014


The strong bullish run after the employment situation report during premarket hours, has led the bulls to an all-time high. The usual fade of the opening is not honored until bar number two. Once again, the Bulls appear eager to take control of the market today.


As expected, support was found with the moving average in bar number five. It is a perfect trade for conservative traders; moreover, we could consider the market always in long.


The Market is looking for direction; however, inertia is with the Bulls given that from bars number four to number seven were with continuous higher highs and higher lows. In the 15-minute time frame, signs of a two-sided trading market are clear.

In the five-minute timeframe, the market is looking to complete a double top, with more signs of resistance.


As per algorithmic probability of price action, calls for a run by the Bears from the high of bar number nine is admitted. The market honored the premise by the Bears to the bar 11' s low.


Bar 12 closed near its high; moreover, it completed a higher low from bar 4. Take note how the strong support has manifested at the moving average, thus, inertia remains with the Bulls.


As per algorithmic probability of price such, resistance in the form of a call for a bear run from the high bar 18 can be appreciated. However, accumulation of buying pressure remains ahead. If bar 21 closest at or near its high, higher prices are imminent. Otherwise, two-sided trading is more likely.

5 Minute

5 Minute Continuation


Higher prices appear imminent, but, a correction by the Bears is gaining ground. With the closing of bar 22 below its midpoint, the market is looking for some of the bulls to take profits. However, an up swing above the bar 22's high is probable before we see prices going below the moving average.


Bar 24 is honoring the premise of higher prices above 22 and then lower prices.

The market is running through its cycles as it always does. Inertia clearly remains with the Bulls.


Take note of the top tail in bar 24, Bulls are looking to take profits while bears are looking to initiate shorts. Inertia remains bullish, and buying pressure accumulation has increased significantly. However, as per algorithmic probability of price action in the 15-minute time frame, a call for the Bears to make a run has been issued.

This means, that we may be looking at resistance levels from the high of bar nine in the 15-minute chart.


The Bears made a run to the low of bar 27 with a strong counteract by the Bulls all the way to the high of bar 31. Even though continues higher lows and highs from bar 28 to the high of bar 31, three of those were doji bars. Resistance levels have now become more visible.


As per algorithmic probability of price action, a run by the Bears has been issued from the high of bar 32. However, inertia clearly remains with the Bulls. If there is such a bearish run it will be met with significant opposition by the bulls.


As mentioned previously the run by the Bears was met with a bullish push back; the bottom tail in bar 35 noted this behavior.


Inertia remains with the Bulls, however, resistance levels are being noted with two-sided trading. The market is looking to regain direction.


5 Minute

Comment bellow "Why", Yes or No.

If the Market would have remained open, do you believe prices could have reached the Red Line Target?

See results

5 Minute


The close of bar 38 does not aid the case for the Bulls; this indicates that both sides are deciding momentum. This point of midday trading the market will tend to pause and wait for more information. With the close of bar 39 as a bear body, previous premise was confirmed.


The market is in a trading range, and with the close of bar 41 momentum is flat. It is important to take note of bar 42's bottom tail. Is the appearance of bearish scalpers betting on the weakness by Bulls taking profits.


Market remains in a trading range, with inertia falling again with the Bulls. Bar 43 is a feature of significance the states a strong case for higher prices.


Have a great holiday, traders.

Red Line Target

15 Minute


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