Early last week there was a rejected probe of the 1mn Resistance at 3907. This is still valid Resistance.
2month Support is at 3831. ES needs to hold that price to maintain a strong position.
Stocks>50dyma Nyse 76% (from 73%), Nasdaq 65% (from 60%), R2000 77% (from 74%). Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio fell to 17.3 last week, the lowest since 17th December. Tuesday’s ratio was 19.98 The Ratio reached 22.66 on 2nd Feb, the highest since February ’20.
