emini analysis 9th September 2016 – pre-open from Chartprofit
ES analysis: Thursday’s session generated a narrow Value Area centred around 2180.50, the 4mn poc. The poc migrated to this level on Tuesday and price relative to this poc should be monitored as a guide to ST strength. Effective Buying/Selling above/below this price could well mark the start of the next directional move.
First Level Support/Resistance = 2180.50 (4mn poc)
Major poc Support = 2087.00
Stocks>50dyma numbers: Nyse 64% (from 68%), Nasdaq 69% (unch), R2000 70% (from 72%). Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio was higher at 7.22. The ratio reached 7.9 on 08/26, a seven month high.
Supporting Charts:
see today’s video
click to enlarge graphic
