JOIN OUR MAILING LIST
Assessments / Blog
ES #F Heavy Supply later in session
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.
As mentioned Yesterday the chances was good of a deeper selloff. Heavy Supply later in the session emerged, with the result that the ES lost 9.25-points. All signals turned bearish and if demand does not show up today, more weakness will follow. If selling continues today support should be found at the 2895.00 to 2883.50 area.
In our view a bar close above 2936.00 will be needed to reverse the near term bearishness.
Daily Signals September the 26th:
S & D Dashboard readings and Daily Signals are all now bearish
Watch Supply and Demand carefully today. If Yesterdays low at 2907.50 is taken out, the sell-off can extend into the 2895.00 to 2883.50 area. A bar close above 2936.00 can reverse the near term bearishness.
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.