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.

Yesterday it was Demand all the way with an impressive rally that gained 67.50-points. The 2802.50 level was taken out with a close at 2816.50 and Average Supply and Demand Volatility dropped to bullish levels. The ES has wiped out nearly 50% of the down move since the all-time high.

Overhead resistance exists at 2819.00. The Supply/Demand sentiment Tool is in the Greed zone (Overbought) and average Supply/Demand Volatility was the lowest since August the 20^th and % stocks > VWAP came in at 71% (up from 46%) at the end of the trading session. This may signal that Yesterday’s up move was maybe too much too quickly after the recent sell-off. A move down into the 2748.50 area is a possibility today.

Daily Signals October the 16^th:

S & D Dashboard Algorithm is Bullish except and Daily Signals all turned Bullish

Caution:

Another move down to 2748.50 is a possibility. The beginning of Q3 earnings releases will definitely weigh in on the markets. The February low at 2529.00 would be the line in the sand if the market moves substantially lower.

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

Click here for example of reversal trade taken in Feeder Cattle that can be found on this page.

US EQUITIES MOUNT IMPRESSIVE EARLY RECOVERY

As fast as the downside breakout occurred, the upside recovery appears to be taking place as Q3 Earnings begin to hit the news wires.

CLICK ON THIS LINK OR CHART ABOVE TO LEARN MORE……

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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.

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