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Assessments / Blog


2018-07-06
ES #F Decent Demand again


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

Yesterday we mentioned “On the current daily bar volatility dropped below 100% which is a bullish sign…. For the brave it is time to accumulate. We expect a quick and sudden move soon….”

The high came in at 2739.75 Yesterday and we are still in Buying pressure territory. At the time of this writing the S&P 500 mini futures contract is trading at 2745.50. Demand dominated Yesterday and was the highest at the end of the trading session for a long time. We expect the 2748.00 to 2756.25 area to offer some resistance and pullbacks from here is a possibility. A bar close above this level will pave the way to test the 2796.00 level.

NYSE Daily Signals July the 5th    

Dashboard:

The Supply and Demand Reading (1st row) came in at 6.9 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) was at 68% which is bullish. The change in average Volatility from the previous day was positive 18% (Up) as shown on the right of Sup/Dem Dashboard.

BXB Signals:

We had a buy 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 positive 21% (Up) shown on the right of BXB Dashboard.

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

66% of stocks (4th row) traded above there VWAP (Volume Weighted Average Price) compared to the previous day’s 38%, a positive sign for the markets.

One clue that we were/are in an accumulation phase is the fact that we stayed in the Buying pressure area as shown on the Simplified Volume Oscillator since June the 25th and the important 2700.50 level held.  

Caution:

Pullbacks can occur. As long as the 2710.75 level holds and no strong Supply emerge we should be heading upwards from here.

Link to Facebook Group where these assessments are also posted regularly.

Click here for example of reversal trade taken in Feeder Cattle that can be found on this page.

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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