JOIN OUR MAILING LIST
Assessments / Blog
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
Good possibility that a pullback will occur Today.
STOCK MARKET SETTING UP FOR A BIGGER PULLBACK – PART I
STOCK MARKET SETTING UP FOR A BIGGER PULLBACK – PART II
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.
Trading Forex, Stocks and Options, Futures and any Cryptocurrency, Commodity or ETF contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results and no representation is being made that any account will or is likely to achieve profits or losses similar to those shown. MCTrading has taken reasonable measures to ensure the accuracy of the information contained herein and on this website, however MCTrading does not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or from an inability to access such information or any delay in or failure of the transmission or receipt of any instruction or notification in connection therewith.