emini 20th April 2020 – pre-open
Friday’s session generated a sixth Value Area above 2719, the major poc. ES is currently printing above 2786 (dashed line) which is the 1/2R off this year’s high, in a strong position. Most importantly it needs to hold the 2719 Support.
Other key charts/levels we are monitoring:
FTSE: the major is at 5870 – chart found Resistance there last wek, has not yet printed time above it.
IWM: the major is at 115.35 and chart found Support at that level on Thursday.
TLT: 6mn Support is at 165.36. TLT ended the week above that level in a strong position.
FTSE: the major is at 5870 – chart found Resistance there last wek, has not yet printed time above it.
IWM: the major is at 115.35 and chart found Support at that level on Thursday.
TLT: 6mn Support is at 165.36. TLT ended the week above that level in a strong position.
Sentiment: My version of the Rydex Assets Ratio ended the week at 7.96. The index fell to 3.35 on 03/17, the lowest since early 2016. The index reached 28.62 on 12/27, the highest reading in my database.
Stocks>50dyma numbers: Nyse 21%, Nasdaq 35%, R2000 24%. Numbers >50 are supportive.
