emini SP500 22nd April 2020 – pre-open from ChartProfit
Tuesday’s session generated an eighth Value Area above 2719, the major poc. That Support was briefly tested during Tuesday’s session, see chart. ES has rallied from there and pre-open today is probing the 1/2R Resistance again. ES needs to hold the 2719 Support to maintain a strong position.
Other key charts/levels we are monitoring:
FTSE: the major is at 5870 – chart found Resistance there last week, has not yet printed time above it.
IWM: the major is at 115.35 and chart found Support at that level last week.
TLT: 6mn Support is at 165.36. TLT closed above that level in a strong position.
FTSE: the major is at 5870 – chart found Resistance there last week, has not yet printed time above it.
IWM: the major is at 115.35 and chart found Support at that level last week.
TLT: 6mn Support is at 165.36. TLT closed above that level in a strong position.
Sentiment: My version of the Rydex Assets Ratio was lower at 7.58. 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 14% (from 18%), Nasdaq 28% (from 33%), R2000 18% (from 21%). Numbers >50 are supportive.
Stocks>50dyma numbers: Nyse 14% (from 18%), Nasdaq 28% (from 33%), R2000 18% (from 21%). Numbers >50 are supportive.
