posted 9.28 a.m. est
Pre-open Wednesday 22nd September
After weakness through the a.m. ES tested above Monday’s green-at-top high (80% Rule) and hit a new rally high.
Dayframe: First Level S/R moves to 1136 (4day poc). If this level is resistance early in the session there may be more weakness in the ST. Short trades elimianted for me.
ST Sentiment: My version of the Rydex Assets Ratio was up from 1.40 to 1.69. The Rydex Timers have been slow to embrace this rally and although the ratio is now at its highest since the August price high it is not yet signalling any kind of sell signal.
Supporting Charts
? USDJPY:
+ EURUSD: in strong location above the 1/2R off June low and Major poc with momentum up. Strongly up today
+ UDX: major support at 80.15 has been broken today – this is significant
+ TLT: printing below the major 1/2R level at 105.22
imo these charts have a positive bias for equities.
