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ES #F Supply with higher Volatility
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 anticipated pullback materialised Yesterday into the support zone identified in our previous assessment (2918.00 to 2915.00). The low came in at 2917.75 (August high) and the ES closed down 7.25-points. The gap to the downside was almost filled.
Volatility has risen and Selling pressure developed. If Demand does not show up today, some more weakness will follow and the August high will be taken out.
Daily Signals September the 24th:
S & D Dashboard readings and Daily Signals are mixed but Volatility increased
If Selling pressure continues more downside movement will follow. There was a fair amount of Supply towards the end of the trading session but price held above the August high, so a move higher today is also a possibility. Keep a close eye on the Supply and Demand readings today.
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