On Wed more time early in RTH at 4673.5, the minor control, and then sold off. I marked Aggressive Selling (red) for firsttime since late September. Makes me more cautious. As I wrote yesterday “I’d want to see time printed back above that price before looking at new longs – price action in the ST is not great right now!”. Also see Sentiment, below. Longer Term Support at 4570.
Sentiment: my version of the Rydex Assets Ratio surprisingly spiked to a new high at 54.15 on Tuesday (conformed), a huge one-day increase. 51.85 on Wednesday. This looks like retail investors piling in to buy anything that looks remotely like a dip. That’s a concern.
