1 month Support/Resistance migrated to 3370.50. Price relative to that level is worth watching.
Key charts
FTSE 100: recent multiple rejections in June/July at 6312 (1/2R Resistance off last year’s high). This indicated weakness and FTSE sold off to test the major Support at 5870 in late July – that has held so far.
DAX: the 4yr is at 12240. DAX tsted that Support in Late July and rallied.
Sentiment: My version of the Rydex Assets Ratio was higher at 13.73, the highest since early March. On 07/10 the ratio reached 12.96, the highest since 5th May. The ratio fell to 3.35 on 03/17, the lowest since early 2016. The ratio reached 28.62 on 12/27, the highest reading in my database.
Stocks>50dyma Nyse 76%, Nasdaq 74%, R2000 76%. Numbers >50 are supportive.
