Assessments / Blog

ES #F Up thrust with Supply

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.


In our assessment on Friday we stated that the market does not appear as strong as our Supply and Demand readings and algorithm suggested, and that an anomaly exists (results less than the Buying efforts suggested it should be). We also pointed out that Supply and Demand Volatility has reached a very low level (climax) and that a reversal is a possibility and that we were near the Greed (overbought) level.

The ES lost 15.50-points on Friday to close at 2722.50, after a high of 2766.25 was reached, on a day of very Volatile price movements. Price closed below the midpoint of the bar to set up a possible Up thrust formation.

In the near term we anticipate another move lower with possible targets at 2567.25 and 2542.50, only if price stay below 2766.25 and we get a bar close below 2712.25.

Daily Signals November the 2nd:   

S & D Dashboard Algorithm turned Bearish, except for Volatility and Daily Signals all turned Bearish

Volatility increased to 74% but is still in official Bullish territory

These readings are an independent assessment of the one and only measureable fundamental market mover: SUPPLY and DEMAND. It does not matter if price is influenced by a geopolitical event, seasonality, fundamental economic data releases or sentiment driven news, etc. It all reflects in Supply and Demand, the “footprints” of the “Big Boys” or “Smart Money”.


Supply and Demand Volatility is still in Bullish territory and need to go above 100 before it turns to the Bearish side. Simplified Volume is still in Buying territory. Wild price swings are still a possibility.


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