JOIN OUR MAILING LIST
Assessments / Blog
ES #F Supply weakened at end of session
Supply weakened on Friday after a lot of Demand showed up in the second half of the trading session, with the ES closing higher by 2.00-points, after the low of the day came in at 2726.50. The expected pullback happened, but only after a new low was in, to close at 2752.00, 25.50-points above the low.
Selling pressure is still present, but Comparative strength is increasing in the short term. The 2737.50 level were taken out on Friday. If the immediate down trend continue, support may come in at the 2696.75 to 2677.75 area.
We do not expect price to move much higher on Monday, as China has released poor economic data and it may weigh in on the markets?
Please note: The data on the chart for the ES continuous contract is for the June 2019 contract, although the volume in the March 2019 contract was still higher on Friday. The March contract expire on the 15th.
End of the day Signals March the 8th:
S & D Dashboard Algorithm is still Bearish.
Daily Signals pointing to the upside?
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”.
The VIX reached a high of 18.33, but closed at 16.06. Link to article about volatility VIX setup. Comparative strength increased and Daily signals point to the upside.
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.