Assessments / Blog

ES #F Demand on down bar

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.

Yesterday price traded to a low of 2866.00, and stayed above the 2865.00 level (mentioned in our previous assessment as a danger point). The close came in at 2892.50 and the ES recovered later to close down only 1.50-points, 26.50-points above the low. This was again a remarkable recovery and price closed near the top of the candle, setting up a potential Spring formation again. Our Supply and Demand Algorithm showed a Demand reading on Yesterday’s down bar.

 The Divergences mentioned previously played out at the end. A quick rally and bar close above 2914.50 should favour future Bullish recovery.

We are still in Selling pressure territory and there is a possibility for more weakness. We expect the 2882.00 to 2873.25 area to be tested. This may happen before or after a possible rally attempt to the 2914.50 area. If the 2865.00 level is taken out the market could be in serious trouble.

Daily Signals October the 8th:   

S & D Dashboard algorithm was mixed, But Daily Signals Are Bullish


A bar close Today above 2914.50 could give credibility to the potential Spring formation. Daily Volatility dropped by 101% and can be a Bullish indication if sustained. We are still in Selling pressure territory. If the 2865.00 level is taken out the market could be in serious trouble. Be warned that historically, October is the most Volatile month of the year!

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