JOIN OUR MAILING LIST
Assessments / Blog
ES #F Supply but no result
Supply dominated Yesterday, but the ES closed level with the previous day. On a daily basis Supply was stronger than the previous day, but the Sellers could not drove the price lower? Price could not close below the 2782.50 level and the possibility exists that absorption is taking place. Today’s price action will probably give more clues to where the market is going in the near term.
Selling pressure is still present, with the Comparative strength weakening. Support to the down side should come in at 2782.50, 2762.00, 2737.75. A greater sell off should find support in the 2696.75 to 2677.75 area.
Comparative Strength Watch list:
The first block on the watch list is the Daily chart. The $VIX Comparative Ratio and Average turned up and the Ratio “Crossed” the average up (Green one bar ago). The $TRAN which normally leads the market has turned down (pink) and the Ratio crossed the Average 4 bars (days) ago, whilst the ES weakened 2 days ago, with the Ratio and Average turning down and a Cross to the down side also 2 days ago.
The big question remains: Will there be follow through to the down side?
End of the day Signals March the 5th:
S & D Dashboard Algorithm is still Bearish.
Daily Signals are mixed
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”.
Volatility picked up Yesterday. Link to article about volatility VIX setup.
WHAT COMMODITIES AND TRANSPORTATION TELLING US – PART I
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 Cryptocurrency, Commodity 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.