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Assessments / Blog


2019-01-04
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”.

Caution:

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.

 

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

 

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