w/e 01/29, Significant Sellers failed twice to auction ES below the major Support at 3672. Following a rejected test of that level Aggressive Buying has been marked five times. First Level Support is at 3797.
The 1mn Redsistance is at 3907. This is a useful reference in the short-term. Pre-open today, ES has auctioned a low as 3861.25. Major Support at 3797.
Stocks>50dyma Nyse 74%, Nasdaq 83%, R2000 82%. Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio ended the week at 19.54. The Ratio reached 22.66 on 2nd Feb, the highest since February ’20.
