ST: in yesterday’s RTH ES opened above 4483, the minor control, but very quickly broke that level, finding Resistance there later in the session, see yesterday’s comments and chart. Price holding above 4483 would be the positive in the ST.
LT: The first sign of weakness in the LT would be a Value Area printed entirely below 4391.50, the 2month control.
Sentiment: my version of the Rydex Assets Ratio was higher at 33.52. On Friday 30th July, the ratio reached 38.57, the highest recorded, indicating extremely hot sentiment.
Stocks>50dyma
Nyse 49% (from 55%), Nasdaq 50% (from 53%), R2000 46% (from 52%). Numbers >50 are Supportive.
