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ES #F Demand on down bar
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 ES closed lower Yesterday and lost 2.75-points. Volatility is lower and we had a Demand reading on the down bar, with Buying pressure developing. If Buying pressure is maintained, we should see a move higher today. A bar close below 2865.00 can still upset the near term picture. In our view only a bar close below 2803.00 can hurt the longer term Bullish picture.
Daily Signals September the 12th:
All Dashboard readings and signals were bullish
These 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”.
Sideways trading in narrow ranges with smaller pullbacks is a possibility, before another move to the upside. We had an unbalanced market warning signal Yesterday.
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