MC Trading

As expected and mentioned in our assessment on the 11^th “Demand is subsiding and a pullback to the 2745.00 area is a possibility. If no bar close below the 2772.75 level occurs, we can see prices going to 2800.00 and beyond, possibly 2840.00 soon.” The 2772.75 held and Yesterday the S&P 500 mini futures contract closed at 2798.50 with a high of 2801.00. At the time of this writing the ES is trading at 2806.25 and our 3^rd target set on May the 23^rd was reached.

The upward thrust is weakening with volatility increasing, and Divergences on the Simplified Volume Oscillator and the Supply / Demand Sentiment Tool, as price is approaching the 1^st Standard deviation of the Regression channel at 2813.50.

A pullback seems likely soon.

NYSE Daily Signals July the 12^th    

Dashboard:

The Supply and Demand Reading (1^st row) came in at 2.4 with Demand dominating the trading session.

Supply and Demand Direction (3^nd row) was to the upside (lime up triangle), indicating upwards direction, with substantial strength.

Average Supply and Demand Volatility (4^th row) was at 119% which is bearish. The change in average Volatility from the previous day was negative -11% (Down) as shown on the right of Sup/Dem Dashboard.

BXB Signals:

We had a buy signal on the signals board (1^st row).

Daily Volatility direction (2^nd row) was Up (blue up triangle). The change in daily Volatility from the previous day was positive 235% (Up) shown on the right of BXB Dashboard.

The overall NY Stock market traded Higher for the day (blue down triangle in 3^rd row).

60% of stocks (4^th row) traded above there VWAP (Volume Weighted Average Price) compared to the previous day’s 34%, a positive sign for the markets.

Caution:

Keep an eye on weakening Demand as a Pullback seems likely, but price should stay above the 2753.00 level unless strong Supply emerge.

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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