Bullish: would be time printed back above 2095.
Bearish: would be more time printed below 2095, especially if that causes the controlling price to migrate lower. Time around 2070/75 would be of particular concern.
Second Level Resistance = 2095.00 (poc)
Support/Resistance today = 2080.25 (1/2R)
Momentum (PriceOsc) is negative for all four Stock Index ETFS. Also Breadth numbers deteriorated and these also need to improve, see below.
Stocks>50dyma numbers: Nyse 37% (from 39%), Nasdaq 30% (from 32%), R2000 31% (from 35%). Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio was almost unchanged at 9.67. The ratio fell as low as 8.67 on 07/14 which was an eight month low.
Supporting Charts:
Bonds TLT: On Tuesday printed its highest level since April. Momentum (PriceOsc) is still positive but has turned lower. There is Resistance at 126.69, the 1/2R off this year’s high.
Dollar Index: currently printing just below 96.76, the 1/2R off March high, which is weaker ST price location.
Gold GLD: Long term charts for Gold indicate major Support at the July price low. “If” this is broken Gold (and GLD) would be in a very weak price location.
Oil USO: has printed a new low this week.
EURUSD: is today printing above 1.0961, the 1/2R off March low in a stronger ST price location. There is Resistance at 1.1241, major 1/2R.