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Assessments / Blog


2019-04-04
ES #F Demand weakening


The chart on the left above is a 240-minute chart we use to determine swing points in the market. The daily chart of the S&P 500 mini futures contract above (on the right) shows our proprietary SUPPLY and DEMAND Dashboard and BXB (Bar by Bar) Signals using data from the NYSE.

The market closed at 2880.00, up 13-points Yesterday and made a new swing high. The daily chart on the right shows Demand is weakening and volume decreased the last three days in the up move. The 240-minute swing chart shows an Up thrust was made Yesterday, with possible weakness developing intraday. The volume on the last upswing was the lowest since March the 18th, with a short term signal down.

We expect a new all-time high, but in the near term a pullback downwards is possible. If the market reverse downwards support should be found at the 2857.00 to 2837.75 level. There is still an unfilled Gap at 2837.75 from April the 2nd.

The 2907.25 level (where the last major sell off started on the 4th of October) to the upside will serve as initial resistance if the market continues to rise from here.

End of the day Signals April the 3rd:   

S & D Dashboard Algorithm is Bullish

Daily Signals are mixed

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:

Demand and Buying pressure weakened Yesterday. Volatility can increase more.

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

Link to recent research post:

WHY ARE THE MARKETS IGNORING THE TREASURY INVERSION?

Our research continues to support a Bullish price bias over the next 30+ days, very likely reaching to new all-time highs again, before June/July 2019.  For many months, other researchers have continued to predict “doom and gloom” with warnings of Treasury yield inversions, global collapse events, and other crisis events.  Yes, we believe continued price rotation will drive future price swings and they could be volatile moves – yet we believe any crisis event will actually become an incredible opportunity for long traders to BUY into the markets at extreme lows.

Recently, our researchers focused on OIL and the Transportation Index as key elements suggesting this upside move is far from over.  Oil has moved from below $55 ppb to well above $60 ppb.  We believe this move will continue higher to target the $64 ppb level were resistance is likely to be found.  We do believe that some price rotation in Oil is likely to happen in the Summer months – when travel increases and Summer blend gas hits the markets.  Winter has been uniquely difficult this year and the rise in Oil prices, where OPEC and foreign market events have attempted to push prices above $50 ppb, is warranted given global economic activities.

Click on this link to read more.

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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