SPY S&P 500 etf shows low supply today...
The white price bar indicates low supply (so far) today. Average trade size is below the 3 month average and well below the average for the last 2 weeks. Aggregate volume is trending to come in approximately 80% of 3 month average at the close. Feb 17 saw an early "D"istribution signal followed by a "#2 Excess Supply" on Feb 25, then "#1 Supply" on Feb 26. The "#3 Excess Supply" signal appeared on March 1st but plotted on Feb 18. This back date plotting occurs as a result of a smoothing filter in the code. Also, average trade size in 
SPY jumped considerably beginning Feb 12. This "Excess Demand & Supply" script will calculate the opposite bullish signals prior to and during a reversal in a sequential fashion. Still no signs of enough accumulation to reverse this still young pull back. Pull backs can become extended down trends too. Support comes in at Fibonacci extension 1.5 level of $202.73 and L7 Cyclical Support of $201.64. Resistance above at $206.97 and $208.19. Currently it's "diddle in the middle."
SPY jumped considerably beginning Feb 12. This "Excess Demand & Supply" script will calculate the opposite bullish signals prior to and during a reversal in a sequential fashion. Still no signs of enough accumulation to reverse this still young pull back. Pull backs can become extended down trends too. Support comes in at Fibonacci extension 1.5 level of $202.73 and L7 Cyclical Support of $201.64. Resistance above at $206.97 and $208.19. Currently it's "diddle in the middle."
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