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Assessments / Blog


2018-09-17
ES #F Demand weakening


The 3-day chart above shows our proprietary SUPPLY and DEMAND Dashboard and BXB (Bar by Bar) Signals, based on data from the S&P futures mini contract.

In our previous assessment we stated “This could mean that a pullback will be happening within the next few trading days, if Volatility keeps on rising Today and next week. We can still expect a new high today, followed by a pullback”.  

The ES traded to a high of 2917.25 on Friday, just a tick from the previous high and closed at 2911.50 on weaker Demand. Volatility is still rising so sideways price movement and probably a pullback can be expected soon. The 3-Day chart above shows the Divergence to the down side on a 3-Day basis on the Simplified Volume Oscillator.

There is an unfilled Gap to the downside and a possibility that the 2894.00 to 2889.00 levels may be tested.

Daily Signals September the 14th:   

Signals are mixed and not conclusive

Caution:

The Divergence mentioned above shows a pullback can be expected before another move higher, especially if Volatility keeps on rising.

 

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