MC Trading

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 ES closed down only 18.25-points Yesterday on the highest Supply since December the 4th. The strong close suggests a fair amount of demand pushed price up from the low. Our final phase 1 target of 2475.00 was taken out with the low coming in at 2441.50.

 Our new phase 2 targets according to our swing system to the down side are: 2431.00, 2391.00 and finally 2364.00. These are medium term targets for swing trading, if Supply continues to dominate.

We are still in Selling pressure territory and no signs that selling pressure is easing, with the ES still at very weak levels according to our comparative strength analysis. Supply/Demand sentiment is in the “Fear” zone. Price nearly reached the bottom of the Elliott wave trend channel and a near-term bounce to the upside is possible soon.

Resistance to the upside is identified at 2521.75, 2542.50 and 2583.00.

End of the day Signals December the 20^th:   

S & D Dashboard Algorithm is Bearish but the Daily Signals are mixed

Caution:

Volatility went up, so wild price swings may continue. A move to the upside is a possibility.

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

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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.

Trading Forex, Stocks and Options, Futures and any Commodity, Crypto 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.