Assessments / Blog

ES #F A lot of Demand with little progress

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 higher by only 3.25-points on a lot of Demand Yesterday and price made a new high of 2918.75, 1-point above the previous high. Signals on the Dashboards are mixed. The daily signals are bearish, whilst the S & D readings are bullish. Another Smart Money Up bar appeared at the high. The overall picture is less bullish in our view, but we are still in Buying pressure territory and average Volatility is lower, but daily Volatility increased.

The above may lead to a pullback today.

Daily Signals September the 19th:

S & D Dashboard readings are Bullish but Daily Signals are Bearish


Although Buying pressure developed, it is weakening and if Volatility increases, a pullback is a possibility.

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