JOIN OUR MAILING LIST
Assessments / Blog
ES #F Supply had the upper hand
Supply had the upper hand Yesterday on a narrow range day, with price trading within the range of the previous day. The ES closed lower by 7.25-points.
Selling pressure that was developing a couple of days ago disappeared, and Comparative strength strengthened again.
Daily signals on the Bar by Bar Dashboard turned to the downside.
A lot of mixed signals, however no close above the last swing high at 2819.75 occurred as yet, although a high of 2826.50 was reached a couple of days ago.
In our view the near term and intermediate term is still Bullish. The anticipated pullback did not materialize as yet. If the market cannot close above 2819.75 in the next few days, the possibility of a more significant pullback to the down side will increase in our view. A close above 2819.75 can start a material rally.
End of the day Signals March the 14th:
S & D Dashboard Algorithm showing mixed readings, Average Volatility Still Bullish
Daily Signals changed to the downside
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”.
Mixed signals on a narrow range day. Any signs of weakness that appeared the last few days, disappeared as soon as it showed up and had no material effect on the market. A bar close above the 2819.75 level or not could be a telling factor.
COUNTDOWN TO THE PRECIOUS METALS BREAKOUT RALLY
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.
|Back||Back to top|