On 11/04 ES moved into a strong position above the 3366.50 controlling price which is now important LT Support.
In Monday’s session there was a rejected test of 3551, the minor Support. Subsequently the controlling price migrated slightly higher to 3557. There was a rally on Tuesday with Wednesday’s session consolidating the gains. As long as ES holds 3557 it is in a strong position.
Sentiment: My version of the Rydex Assets Ratio was higher at 19.53, the highest since February.
Stocks>50dyma Nyse 87%, Nasdaq 84%, R2000 88%. Numbers >50 are supportive.
