JOIN OUR MAILING LIST
Assessments / Blog
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
The Divergence mentioned above shows a pullback can be expected before another move higher, especially if Volatility keeps on rising.
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.