The 4mn Support is at 4163. This held on recent decline. A Value Area printed below that level would be a bearish development in the longer time-frame. There is minor Support at 4197. Sentiment: My version of the Rydex Assets Ratio was higher at 31.11. Close to the ratio on 06/15 when it reached 31.27, […]

The 4mn Support is at 4163. We have yet to see a Value Area printed below that level – see chart. Should that happen it would be a bearish development in the longer time-frame. There is minor Support at 4197. Sentiment: My version of the Rydex Assets Ratio was higher at 30.30. Close to the […]

The 4mn Support is at 4163. We have yet to see a Value Area printed below that level – see chart. Should that happen it would be a bearish development in the longer time-frame. There is minor Support at 4197. Sentiment: My version of the Rydex Assets Ratio was lower at 25.48. On 06/15 the […]

Friday was an Aggressive Selling day (usually indicates lower) followed immediately by an Aggressive Buying day. This is very rare and in the last five years has only happened three other times. The market was higher in the short-term after all three. There were 9 instances in the four years prior to that and with […]

On Thursday the 4mn migrated to 4197.5, see Friday’s comments. With Friday’s price action enough time was spent at 4163 to migrate the 4mn again, down to that level. Pre-open today ES has recovered back above that level, which is important Support. Aggressive Selling (red) was marked on Friday. Breadth deteriorated dramatically on Friday. Sentiment: […]

ChartProfit Chart Book – week ending 18th June 2021

Enough time was spent at 4197.5 to migrate the 4mn to that level. ES currently prints below that price and is therefore in a weak position in the ST. Sentiment: My version of the Rydex Assets Ratio was lower at 25.86. On Tuesday the ratio reached 31.27, the highest ratio recorded indicating extremely hot sentiment. […]

On Wednesday, ES broke below 4226, the minor Support (16day) and then briefly tested the First longer-term Support at 4197 (see chart) before bouncing back to find Resistance at the 16dy and fall again. Time below 4197 would suggest a test of the longer-term Support (3mn) at 4163. Sentiment: My version of the Rydex Assets […]

Minor Support (15day) is at 4226. First Support in the longer-term is at 4197 and longer-term Support (3mn) is at 4163. Sentiment: My version of the Rydex Assets Ratio was higher at 31.27. This is the highest ratio recorded. Sentiment is running extremely hot. Stocks>50dymaNyse 65% (from 64%), Nasdaq 59% (from 60%), R2000 60% (from […]

Minor Support (15day) is at 4226. First Support in the longer-term is at 4197 and longer-term Support (3mn) is at 4163. Sentiment: My version of the Rydex Assets Ratio was higher at 30.16. There are only four ratios higher than this in my database, the highest being 30.77 on 04/26. Stocks>50dymaNyse 64% (from 69%), Nasdaq […]