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Assessments / Blog


2019-03-21
ES #F More Supply


The daily chart of the S&P 500 mini futures contract above shows our proprietary SUPPLY and DEMAND Dashboard and BXB (Bar by Bar) Signals using data from the NYSE.

More Supply at the end of Yesterday’s trading session. The ES closed lower by 13.25-points.

Signals are Bearish on the Supply and Demand Dashboard, except for average volatility which is still in Bullish territory, but close to Bearish territory at 92 (>100 is Bearish).

Selling pressure has developed and Comparative Strength is still weakening.

The Transportation Indexes weakened Yesterday and Volatility is rising.

If the market continues to pull back to the downside first resistance should be found at 2814.00. The next stop could be 2797.50, with our target at 2777.00.

Comparative Strength Watch list:

Comparative Strength in $VIX is rising with Transportation weakening. The ES weakening more than the Nasdaq.

End of the day Signals March the 20th:   

S & D Dashboard Algorithm turned Bearish, although Average Volatility still in Bullish territory

Daily Signals changed to the upside with a balanced market warning

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:

At the time of writing the ES is trading at 2819.75, if Volatility Increases further and the Transportation Indexes move further to the downside, a deeper pullback to the downside is possible.

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

Links to recent research posts:

GOLD TO CONTINUE TO BASE BELOW $1320 FOR WEEKS

Click on this link to read more....

NO FED HIKE – STOCK PRICE FAKE OUT?

Click on this link to learn more....

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