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ES #F Supply again
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 we warned about the weakness in the ES. The ES lost 45.75-points Yesterday with strong Supply emerging. The possibility of the market testing last month’s low is getting stronger.
In our view only a close above 2762.50 accompanied by strong demand, will threaten the near term down trend.
Daily Signals November the 19th:
S & D Dashboard Algorithm turned Bearish, except for Volatility and Daily Signals are all Bearish
Average Volatility still Bullish but nearing Bearish territory
A rally is possible today, but without strong demand it will not last. A close above 2762.50 could break the near term down trend.
METALS MOVING IN UNISON FOR A MASSIVE PRICE ADVANCE: PART I
Taking a look at the most recent 4~5 years on this chart, two critical items came to our attention; first, the lows reached in 2015 and the recent lows in 2018 both occurred while the custom ratio levels were within the Upper Boundary area. We have not seen the ratio move into the Lower Boundary since 2011. What causes the ratio to move toward this level and what are the correlations that we can ascertain from further research using this new tool?
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