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Assessments / Blog


2018-08-28
ES #F New all-time high, possible weakness


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.

 

 

The mini S&P 500 futures contract made a new all-time high Yesterday, and the expected pullback did not occur. The short term signals (for the day only) turned bearish and the Simplified Volume Oscillator shows weakness with a divergence to the down side, with the Supply and Demand Sentiment tool approaching the “Greed” level.

Based on the above chances for a pullback is good. The 2869.75 level should offer support and if it penetrated the 2863.75 to 2861.00 level should offer further support. A close below this level can lead to a larger pullback.

Our first target to the upside was reached Yesterday.

Daily Signals August the 27th

The Dashboard readings and signals are mixed

Short term bearish, longer term bullish

Caution:

Good possibility that a pullback will occur Today.

Affiliate:

Stock & ETF Trading Signals

 

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.

 

STOCK MARKET SETTING UP FOR A BIGGER PULLBACK – PART I

Click on image below to read the full post

STOCK MARKET SETTING UP FOR A BIGGER PULLBACK – PART II

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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