ST: Last week there was a failure at the 4526.5 Resistance, and on Friday Aggressive Selling was marked. Currently ES is printing below 4482.0 (25dy control) which is First Resistance at the start of this week. Bulls would want to see that level recovered quickly or a test of 4391.50 would look likely.
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 ended the week at 38.63, the highest ratio ever, indicating extremely hot sentiment. imo we need to watch for topping indications (see LT above) but there could be a blow-off move first.
Stocks>50dyma
Nyse 42% (from 47%), Nasdaq 45% (from 50%), R2000 40% (from 46%). Numbers >50 are supportive.
