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Assessments / Blog


2019-01-18
ES #F Demand for 14 out of 16 sessions


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.

Supply was evident in the beginning of the trading session Yesterday, but it was short lived and Demand took over. The ES gained 22.00-points after trading at a low of 2596.50 Yesterday to close at 2635.25. Supply and Demand Algorithm is Bullish, and the daily signals turned Bullish Yesterday. A Divergence to the down side in Buying pressure still exists.

Resistance at 2625.00 was broken Yesterday and a move higher to the 2655.00 to 2676.00 is possible.

The expected pullback Yesterday was short lived and another move higher is likely Today. Should the market trade downwards, support zones are at 2546.00, 2529.00, 2487.50, 2456.00 and 2431.00.

End of the day Signals January the 17th:

S & D Dashboard Algorithm is Bullish, and the Daily Signals turned Bullish

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:

Another move higher is possible, before a significant pullback to the down side will occur. The Divergence to the down side in Buying pressure still exists and we are near the “Greed” (Overbought) zone. Keep an eye on Supply and Demand during the trading session.

 

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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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