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 […]