JOIN OUR MAILING LIST
Assessments / Blog
ES #F Supply without selling pressure
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 expected the weakness played out Yesterday and the ES closed down 63.25-points. Supply emerged after 5 trading days of net Demand, however no Selling pressure developed and Comparative strength in the ES improved. Average Supply / Demand Volatility picked up again, but has not moved in Bearish territory as yet.
Based on the above we expect a rally at least for a part of today, unless Selling pressure develop. Nonfarm payroll's results are due today!
Resistance to the upside is identified at 2508.00, 2521.75, 2542.50 and 2583.00. So far price could not close higher than 2523.00, and a rally to the 2529.00 area is possible.
Average Supply / Demand Volatility picked up again, but has not moved in Bearish territory as yet.
At the time of this writing the ES is trading at 2465.75.
End of the day Signals January the 3rd:
S & D Dashboard Algorithm is Bearish, except for Volatility, but the Daily Signals turned Bearish
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”.
Bearish signals, without Selling pressure and Average Volatility not yet in Bearish territory. Selling pressure or not and Volatility would be the key areas to watch today.
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|