Assessments / Blog

ES #F Demand with little upside reward

The daily chart above shows our SUPPLY and DEMAND Dashboard and BXB (Bar by Bar) Signals.

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Yesterday the market traded to a high of 2794.25, one tick above our resistance identified on our last assessment at 2794.00 to the upside. The weekly bar that started Yesterday suggests that Supply has the upper hand so far at the time of this writing, with buying pressure diminishing. We had a decent strength Demand reading Yesterday but price only moved up 3.50-points, with a balanced market signal. This may lead to sideways price action. Pullbacks can also be expected this week with support at 2756.00 to the down side.

Several important events are taking place this week, which may have a negative impact on the markets, before moving higher again.

Daily Signals June the 11th


The Supply and Demand Reading (1st row) came it at 4.5 with Demand dominating the trading session.

Supply and Demand Direction (3nd row) was to the upside (lime up triangle), indicating upwards direction, with substantial strength.

Average Supply and Demand Volatility (4th row) is still below 100% and is bullish. The change in average Volatility from the previous day was negative 6 (Demand weakened) as shown on the right of Sup/Dem Dashboard.

BXB Signals:

We had a balanced market signal on the signals board (1st row).

Daily Volatility direction (2nd row) was Down (maroon down triangle). The change in daily Volatility from the previous day was negative 7 (Demand weakened) shown on the right of BXB Dashboard.

The overall NY Stock market traded Lower for the day (blue up triangle in 3rd row).

50% of stocks (4th row) traded above there VWAP (Volume Weighted Average Price) compared to the previous day’s 59%, a negative sign for the markets.

We are neutral as to the near-term direction, but bullish on the longer term. A pullback in the near term seems likely.


Weekly chart started the week with Supply dominating at the time of this writing. A pullback to the 2756.00 level remains a possibility, before another move higher.

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Below the weekly chart, showing Supply is dominant at the moment, although we had an up close Yesterday, suggesting a lot of profit taking is taking place.


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