JOIN OUR MAILING LIST
Assessments / Blog
ES #F More Supply
Supply dominated for the 4th consecutive day Yesterday, and the ES closed down 22.00-points. In our last assessment (6th before the open) we mentioned “Today’s price action will probably give more clues to where the market is going in the near term”. Eventually there was follow through to the down side.
Selling pressure is still present, but the Comparative strength is easing. The 2782.50 and 2762.00 levels were taken out. Support to the down side should come in at 2737.75. A greater sell off should find support in the 2696.75 to 2677.75 area.
We may see a pullback to the upside today?
End of the day Signals March the 7th:
S & D Dashboard Algorithm is still Bearish.
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”.
Volatility increased. Link to article about volatility VIX setup. Comparative strength eased and Daily signals point to the upside, a pullback upwards is possible today.
Links to recent posts:
CHRIS’ MOST RECENT CLOSED TRADES
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.