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Assessments / Blog


2019-04-02
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”.

Caution:

Price reached “Overbought” levels. Watch out for Volatility which can increase again.

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

Link to recent research posts:

WAITING FOR THE RUSSELL 2000 TO CONFIRM THE NEXT BIG MOVE

While we have recently suggested the US stock market is poised for further upside price activity with a moderately strong upside price “bias”, our researchers continue to believe the US stock markets will not break out to the upside until the Russell 2000 breaks the current price channel, Bull Flag, formation.  Even though the US stock markets open with a gap higher this week, skilled traders must pay attention to how the Mid-Caps and the Russell 2000 are moving throughout this move.

As we continue to advise our clients that the upside pricing cycle in the US stock market is being underestimated, see this research post: we also believe that increased volatility and price rotation will continue to drive larger rotations in price before the final breakout upside move takes place.  We want to continue to warn traders that we still don’t have any confirmed upside breakout with price continuing to stay within this price channel in the Russell 2000.  Eventually, when and if the price does breakout to the upside, we will have a very clear indication that continued higher prices and a larger upside move is happening.  Until then, we need to stay cautious about the types and levels of rotation that continue within the markets.

Click on this link to read more...

APRIL’S STOCK MARKET, GOLD, OIL, AND NATURAL GAS PRICE PREDICTIONS AND FORECAST

Click on link above to see the video.

RISK DISCLOSURE:

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.

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