ChartProfit Chart Book – week ending 23rd April 2021

Thursday’s RTH opened with a probe above Wednesday’s Buying Day high but Sellers immediately auctioned ES back down to the Support. I’ve written that I’m staying bullish with the trend but would change that view very quickly with a RTH close below 4117.50 (dashed line), the low of the most recent Buying Day. I stay […]

I’ve written that I’m staying bullish with the trend but would change that view very quickly with a RTH close below 4115.50 (dashed line), the low of the most recent Buying Day. We can move that level to 4117.50 which is yesterday’s Buying Day low. Buyers responded strongly on Wednesday, auctioning ES higher throughout the […]

I’m staying bullish with the trend but will change that view very quickly with a RTH close below 4115.50 (dashed line), the low of the most recent Buying Day. There is minor (15 day) Support at 4121. Sentiment: My version of the Rydex Assets Ratio reached 30.3 on 04/19. That’s the first time the ratio […]

from pre-open 16th April >>As noted on 6th April “the distribution patterns suggest a move above 4150”, and that has now been achieved. I also wrote “rejection above that level would be likely”. The distribution pattern I’m basing that on is long-term so rejection may not be immediate but this interpretation wouldn’t allow price to […]

ChartProfit Chart Book – week ending 16th April 2021

The Rydex Assets Ratio is a market sentiment indicator based on the flow of money in and out of bullish and bearish mutual funds. I believe the original indicator was based on just two funds in the Rydex family, the Nova fund which was bullish, and the Ursa fund which was bearish. By dividing the […]

As noted on 6th April “the distribution patterns suggest a move above 4150”, and that has now been achieved. I also wrote “rejection above that level would be likely”. The distribution pattern I’m basing that on is long-term so rejection may not be immediate but this interpretation wouldn’t allow price to print much higher here […]