JOIN OUR MAILING LIST |
Assessments / Blog 2018-09-06 ES #F Gap Filled
The 26-minute chart shows the gap left open since August the 27th and filled Yesterday within one tick. 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 stated: “We still have an unfilled gap from 2885.50 to 2877.25 and a pullback to this zone is also a possibility, before a move higher”. Price traded to a low of 2877.50 (came within one tick of the bottom of the gap zone), before bouncing up again. Volatility is still bearish but eased and the Simplified Volume Oscillator is still in Selling pressure territory. Demand showed up later in the trading session. If price stay above 2877.50 and more Demand shows up today, the longer term uptrend should continue from here, however Volatility is still high and with weakness continuing, more Supply will enter the market, which can drive price even lower. Daily Signals September the 5th : The Dashboard readings and signals turned mostly Bullish, but Volatility is still bearish We also had a Balanced market signal, meaning that sideways price action is a possibility and no clear signals exist for clues to show future direction of price. Caution: If Demand enters the market today, the strong close (in the middle of the range) Yesterday will help to push the market higher. If not and Selling pressure continues today, a possible test of the 2863.75 level can occur. Affiliate:
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. Trading Forex, Stocks and Options, Futures and any 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. |