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2018-06-21
ES #F Demand, inside bar?


The daily chart above shows our SUPPLY and DEMAND Dashboard and BXB (Bar by Bar) Signals using data from the NYSE.

Yesterday the ES closed up with a trading range inside the previous day’s range.

Yesterday the ES gained 4.5-points to close at 2770.75. The high came in at 2778.25 and did not broke the 2779.00 level.

Demand is now dominating on a 3-day basis, but still under Selling pressure. Yesterday’s trading opened the door for an upwards near term direction in the S&P index futures, but Buying pressure has to develop and a bar close above 2796.00 will confirm a bullish near term trend again.

NYSE Daily Signals June the 20th

Dashboard:

The Supply and Demand Reading (1st row) came in at 3.8 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 now below 100% which is a bullish sign. The change in average Volatility from the previous day was positive 32% (Demand) 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 Up (blue up triangle). The change in daily Volatility from the previous day was negative 73% (Demand) shown on the right of BXB Dashboard.

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

53% of stocks (4th row) traded above there VWAP (Volume Weighted Average Price) compared to the previous day’s 62%, a negative sign for the markets.

We are still in Selling pressure territory on the 3-day and daily charts. We are not convinced that the next move will be to the upside as all signals are not bullish at this time and a test of the 2757 to 2743 area down is a possibility, before another substantial move to the upside.

Caution:

We are still in Selling pressure territory on the daily and 3-day charts. A close above 2787.50 (1 standard deviation regression line), will spark more demand and could get the Bullish momentum on the run again.

Intraday

We took one opportunity during the last trading session on the 26-minute chart below. Entries and exits are shown with arrows:

Strategy is simple, enter when 2 Dashboards align and exit when two opposite triangles on BXB Dashboard appears, shown with arrows on the chart. The last sub window on the chart below shows the Greed / Fear sentiment measurements of Supply and Demand Sentiment tool. Similar to an Oversold / Overbought situation (but without using price related formulas).

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RISK DISCLOSURE:

The information delivered here is for educational purposes only and is not intended to be a recommendation to purchase or sell any of the stocks, futures or other securities referenced. All references are for illustrative purposes only and are not considered endorsed or recommended for purchase or sale by MC Trading.

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