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Assessments / Blog


2019-08-24
ES #F Supply galore!


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 cautioned: “Conflicting signals. Demand and Buying pressure is weakening, whilst in the “Greed” zone. Average Volatility at an extreme low. Daily Volatility was Bearish Yesterday.”

We also mentioned the mixed signals are typical before a substantial move up or down. The market closed down 66.75-points Yesterday, after a quick up move, above the previous day’s close. Average SD volatility is now in Bearish territory, with solid Selling pressure.

If there is more follow through to the down side, expect 2817.75 to offer resistance, and if broken the 2789.25 to 2775.75 area can come into play. If the sell-off continues beyond this levels, we expect price to reach 2741.50 by around the 28th of this month, if our proprietary swing system is correct. In our view the near term turned Bearish, and a close above 2944.75 is needed to turn it around.

End of the day Signals August the 23rd:

S & D Dashboard Algorithm is Bearish

Daily Signals are Bearish

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:

A pullback and some sideways price action is possible for the near term.

Links to recent research posts by The Technical Traders:

THE AUGUST STOCK MARKET BREAKDOWN PREDICTION AND ANALYSIS

THE NEXT BREAKDOWN AND THE SETUP?

Free Research Posts

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 Cryptocurrency, Commodity 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.

 


 
 
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