JOIN OUR MAILING LIST
Assessments / Blog
ES #F Demand but be cautious
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 last assessment we mentioned: “A close above 2835.00, accompanied by Buying pressure and Volatility staying in Bullish territory, with Comparative strength, would put the Bulls on track again.”. The 2835.00 level was exceeded and price made a new near term swing high.
However, price reached the “Greed” (Overbought) zone and the Comparative Strength reached the 2 Standard deviation level to the upside and a pullback to the downside may follow. The ES also show weakness compared to the Russel 2000 (see link to research post from The Technical Traders).
End of the day Signals April the 1st:
S & D Dashboard Algorithm is Bullish
Daily Signals point 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”.
Price reached “Overbought” levels. Watch out for Volatility which can increase again.
Link to recent research posts:
WAITING FOR THE RUSSELL 2000 TO CONFIRM THE NEXT BIG MOVE
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.