Assessments / Blog

ES #F Supply then bounce back

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 stated Yesterday “A good possibility exists that we will see the gap filled, and sell-off to at least 2629.50”. The market sold off to a low of 2621.25 on a lot of Supply, before bouncing back to close 10.75-points down at 2691.00, erasing nearly 70-points from the low. Volatility is very high and this kind of wild price swings may occur frequently, if Volatility remains at these levels.

Simplified volume entered Selling pressure territory and Supply / Demand Sentiment came out of the “Fear” territory. This is opposite signals and an indication that the market is seeking direction.

As stated previously our down side targets / support were identified at 2657.00 (taken out Yesterday), 2625.00 (taken out Yesterday), 2567.00, 2542.50 and 2475.00.

On the comparative strength/weakness analysis, the ES still shows weakness, and only a geo-political event will cause a significant rally at this stage, in our view.

Daily Signals December the 6th:

S & D Dashboard Algorithm is still Bearish, but the Daily Signals turned Bullish


Further advance to the upside is possible, but we expect resistance in the 2717.00 to 2735.00 area.


Link to Facebook Group where these assessments are also posted regularly.

Click here for example of reversal trade taken in Feeder Cattle that can be found on this page.


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