Stock market today 25th November 2016 – pre-open from Chartprofit
emini analysis: Please read previous highlighted, comments. As long as ES prints above 2159.50 it is in a LT strong price location. The last seven Value Areas have been printed above that level. Significant Selling (red) has not been marked for sixteen days.
First Level Support = 2159.50 (6month poc)
Second Level Support = 2106.50 (1/2R off August high)
Stocks>50dyma numbers: Nyse 68% (from 69%), Nasdaq 69% (from 68%), R2000 79% (from 78%). Numbers >50 are supportive.
Sentiment: On Wednesday my version of the Rydex Assets Ratio was lower at 6.51 (from 7.35). The highest ratio for the last ten months is at 7.90 reached on 08/26. Both Bull and Bear fund assets were up on Wednesday with Bull fund assets close to an eleven month high.
Supporting Charts
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