Assessments / Blog

ES #F Demand and retracement upwards

The daily chart of the S&P 500 mini futures contract above, shows our proprietary SUPPLY and DEMAND Dashboard and BXB (Bar by Bar) Signals using data from the NYSE.


Yesterday we saw a snap back to the upside which could have been expected due the Supply sentiment that reached the Fear zone (Oversold) the day before, on the highest Supply since July the 7th. The Simplified Volume Oscillator is still in Selling pressure territory and Yesterday Demand nearly reached the Greed zone (Overbought), with a gain of 16.25-points. The current down swing in progress, travelled 43.75-points so far on volume of 3.64-million contracts, whilst the previous down swing that ended on August the 2nd (the highest since April the 24th), travelled only 58.50-points on more than double the volume of 7.47-million contracts.

Our conclusion from the above is that the market is still vulnerable for a larger move down. A close below 2820.00 could lead to a move to test the 2791.00 level. Since the middle of July price oscillated between the 2863.75 and the 2789.75 levels.

 Ongoing Demand with a close above 2852.75 will get the Bulls on track again.

NYSE Daily Signals August the 14th   

All signals were bullish for the day with Demand dominating


A pullback to the 2791.00 level still remains a possibility and a break of this level could lead to a deeper sell off, if more Demand does not show up. If the 2791 level does not hold, the bulls will be in trouble.

Data is updated in real time during the regular trading session of the NY Stock exchange and does NOT take into account any price indicators or mathematical formulas using price. We do however show the cumulative price change for the trading session and in some instances assess price movement’s relationship to Supply and Demand.

It is therefore fair to say that the readings and signals are independent from other popular price indicators and others shown on the chart. The readings are an independent assessment of the one and only measureable fundamental market mover: SUPPLY and DEMAND. It does not matter if price is influenced by a geopolitical event, seasonality, fundamental economic data releases or sentiment driven news, etc. It all reflects in Supply and Demand, the “footprints” of the “Big Boys” or “Smart Money”.

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