JOIN OUR MAILING LIST
Assessments / Blog
ES #F Strong Supply
The ES lost 45.25-points on Friday, closing at 2600.25 (March 2019 contract – December contract closed at 2597.00 – eSignal continuous contract rolled over already). NB – The volume in the March contract is still very low, and it is recommended to trade the December contract until volume in the front month contract increases.
Volatility is in Bearish territory (100 and above). Simplified volume is still in Selling pressure territory, but shows signs of reversing to the up side and Supply / Demand Sentiment is at the “Fear” (oversold) level.
On the comparative strength/weakness analysis, the weakness in the ES escalated and is at extreme levels.
Yesterday we mentioned: “The $TRAN (Transportation Index) made a new low, whilst the ES did not make a new low? One could argue that the ES is the stronger one, but given the fact that the $TRAN is most of the time leading the market, the possibility is high that the ES will catch up to the down side “. Friday the $TRAN again made another new low, whilst the ES did not?
AS expected the ES had a go to test the December 10th low. If Supply continues to rule, the April low of 2552.00 will come into play. Our remaining targets to the down side are at 2567.25, 2542.50 and 2474.75.
Daily Signals December the 14th:
S & D Dashboard Algorithm is Bearish and all the Daily Signals turned Bearish
Comparative strength / weakness reached extreme levels, with Sentiment in the “Fear” (oversold) zone, making a pullback to the upside a possibility on Monday.
The information delivered here is for educational purposes only and is not intended to be a recommendation to purchase or sell any of the stocks, futures or other securities referenced. All references are for illustrative purposes only and are not considered endorsed or recommended for purchase or sale by MC Trading.
Trading Forex, Stocks and Options, Futures and any Commodity, Crypto or ETF contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results and no representation is being made that any account will or is likely to achieve profits or losses similar to those shown. MCTrading has taken reasonable measures to ensure the accuracy of the information contained herein and on this website, however MCTrading does not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or from an inability to access such information or any delay in or failure of the transmission or receipt of any instruction or notification in connection therewith.
|Back||Back to top|