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ES #F Battle between Supply and Demand
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 ES closed higher by 0.50-points Yesterday, in a battle between Supply and Demand, Supply winning at the end of the day. The recent up move went higher than we anticipated before finding resistance.
We expect a down day today as a lot of Supply emerged at the end of the trading session, Daily signals turned Bearish, Volume rose and the spread narrowed, indicating the presence of Supply.
Daily Signals November the 29th:
S & D Dashboard Algorithm is mixed, and Daily Signals are Bearish
Supply dominated at the end of the session, but price closed higher?
The upward thrust is shortening. Follow through or not to the upside, accompanied with Demand or Supply should be a telling factor.
GLOBAL ECONOMIC PERCEPTIONS ARE SHIFTING – PART I
Over the past 20+ months, a massive capital shift has taken place where investment capital fled weaker global economies and rushed into the US stock market because of a tremendous value opportunity that existed at that time. Technology, Biotech and many others equity sectors were skyrocketing – in some cases 2~3% a month. This ROI, along with the benefit of a stronger US Dollar, created a very unique environment where foreign capital could rush into the US markets, land pretty much anywhere and become relatively safe from foreign risks/devaluation.
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