Assessments / Blog

ES #F Battle between Supply and Demand

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.

In our previous assessment (Click for link) we warned: “A bounce to the upside is possible on Monday. Expect more volatility.”

Yesterday was a battle between the Sellers (Supply) and the Buyers (Demand)! After price made a low of 2789.50 (one tick above the axis line drawn at 2789.25), the battle started with Demand the winner by a whisker at the end of the day, but price closed down 2.50-poits for the day. Volatility increased but eased at the end.

Supply and Demand Dashboard shows mixed signals, with the Daily signals pointing to the upside. Comparative weakness has eased.

The Transportation Index reached a new swing low.

At the time of this writing the ES is trading higher at 2815.25. A bounce to around the 2829.00 level is a possibility, but we are not convinced the current down swing has reached its low as yet. A close below 2789.25 will lead to more Selling, with resistance at 2777.00 and 2722.00.

End of the day Signals March the 25th:

S & D Dashboard Algorithm is mixed

Daily Signals turned 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”.


A lot of Demand is still present in the US Equity markets and a bounce to the upside is possible today. Expect more volatility.

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