See previous highlighted comments on chart. ES broke below the 3366.50 controlling price and declined sharply with Wednesday’s Value Area being generated entirely below that level. Weak position. No clear local Support.
Sentiment: My version of the Rydex Assets Ratio was lower at 14.87. The ratio reached 17.14 on 10/14, a 7month high. 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 29% (from 44%), Nasdaq 38% (from 55%), R2000 36% (from 51%). Numbers >50 are supportive.
