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Assessments / Blog
ES #F Demand with strong up move
Demand dominated for the duration of the trading session Yesterday, with the ES closing higher by 38.75-points (the highest point gain since January the 30th). This strong up move was not expected after the poor economic data releases on Friday.
Buying pressure is developing, and Comparative strength increased. A close above the last swing high at 2819.75 will turn the immediate trend to Bullish.
The Supply and Demand Sentiment is in the “Greed” territory (Overbought) and the Percentage of stocks above their Volume Weighted Average Price closed at 70%, the highest level since January the 17th.
Please note: The data on the chart for the ES continuous contract is for the June 2019 contract. The March contract expire on the 15th.
End of the day Signals March the 11th:
S & D Dashboard Algorithm turned Bullish
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 market may be over stretched, but we have to wait and see where price moves today.
THIS STOCK MARKET POP COULD FIZZLE FAST
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