posted 9.28 a.m.
Pre-open Tuesday 21st September
Significant Buyers were marked on Monday, Aggressively auctioning ES higher in the p.m. Value Area was higher and wider which is good for continuation although volume was lower (only 80% of 20day average).
Dayframe: In a strong trend the day’s range tends to take place above the previous day’s poc which it has last two days. The precise level of Monday’s poc was 1132.25 and that is is the overnight low. I’m moving First Level support to 1132.25 for today’s session. Pre-open ES is printing 1139.
ST Sentiment: My version of the Rydex Assets Ratio was slightly up from 1.32 to 1.40 which still indicates that the Rydex Timers are slow to embrace this rally and that remains ST bullish (contrarian).
Supporting Charts
? USDJPY: Following the multi-year low last week chart is holding up after the strong rally on Wednesday
+ EURUSD: in strong location above the 1/2R off June low and Major poc with momentum up.
+ UDX: Momentum is down (PriceOsc), major support at 80.15
+ TLT: printing below the major 1/2R level at 105.22 and PriceOsc lower for thirteen consecutive days.
imo these charts have a positive bias for equities.
