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ES #F First target reached

ES #F First target reached

On March the 15th we warned to be cautious trading to the long side and showed the weakness that developed in the ES. Our first target set of 2576.75 was reached on Monday. Yesterday we saw Supply dominating later in the market session. A rebound to the 2785 – 2807.25 area is a possibility as some supply entered the market. If price do not trade higher in today’s session taking out Yesterday’s high, some more downward movement will occur. We have seen some high Volatility readings which caused some wild price swings. If Volatility subsides we will probably see smaller price swings with some sideways price action, so be couscous. If Mondays low at 2552 is taken out, substantial downward movement can occur.

We developed a Supply and Demand Dashboard, based on Internal Fundamental market data. This Algorithm displays 4 crucial data sets in a dashboard, showing the Strength of Supply and demand, Cumulative price change, Supply OR Demand dominance with direction and Relative Volatility. On the 234-minute chart we can see clearly that Supply entered the market yesterday, with some strong Supply/Demand readings, Supply dominated and Volatility decreased, the ideal scenario for an up move (rebound). The Cumulative price swing from market close the previous day to close yesterday was 38.50 points ($1925 per contract).

Since we tested this new Algorithms, we nearly doubled a $5000 account in just over 2 weeks, with 14 trades, having only 2 small losing trades, with one to three contracts. We will be releasing this new Market Supply and Demand Dashboard probably as soon as the weekend.


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