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Assessments / Blog


2019-03-09
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”.

Caution:

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.

Link to Facebook Group where these assessments are also posted regularly.

Links to recent posts:

 

THE NEXT BIG MARKET CORRECTION

 

ARE YOU READY FOR THE NEXT BIG MOVE IN GOLD?

 

STRONG HISTORICAL PROBABILITY OF NG LONG TRADES SETTING UP

 

CHRIS’ MOST RECENT CLOSED TRADES

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