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Assessments / Blog


2019-04-05
ES #F Demand but little reward


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.

The market closed at 2882.75, up 3-points Yesterday, after making a low of 2871.00. Price was contained within Yesterday’s range. Although no obviously Bearish indications appeared Yesterday, the strong Demand only managed to push price higher by 3.00-points. Although all trends (near term and long term) are Bullish, it appears if the market is seeking direction in the near term. Volatility went up, but eased at the end of the trading session.

An interesting anomaly occurred Yesterday in the market statistics we monitor intraday. The net value (value traded up less value traded down) declined, whilst the net volume (advancing volume less declining volume) rose strongly?

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.

Today’s employment report can be a market mover. If the market reverse downwards support should be found at the 2857.00 to 2837.75 level. There is still an unfilled Gap (low at 2837.75) from April the 2nd.

End of the day Signals April the 4th:

S & D Dashboard Algorithm is Bullish

Daily Signals are pointing 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:

The average Buying pressure is still weakening. Today’s employment report can move the market in any direction.

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

Link to recent research post:CANADIAN DOLLAR MAY BE SETTING UP FOR AN UPSIDE BREAKOUT

The researchers, at Technical Traders Ltd., believe a current pennant/flag formation in the Canadian Dollar is suggesting an upside breakout move may be setting up over the next 5~7+ days.  Recently, the Canadian Dollar has weakened from 0.76875 to lows near 0.74375.  Current price rotation is almost perfectly aligned with Fibonacci Price theory suggesting that the recent failure to establish any new lower price level (highlighted on this chart in MAGENTA), suggests a tightening price range as the current pennant/flag formation completes over the next 5~7+ days.  It is our belief that as long as the current price level stays above the 0.74375 level throughout the completed pennant apex, an upside price break is very likely.

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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