The minor (1month) Support is at 3898. Value Areas on Thu and Fri were generated entirely above that level which means ES is in a strong position if it holds.
2month Support is at 3831. ES needs to hold that price to maintain a strong position in the longer time-frame.
Stocks>50dyma Nyse 83% (from 81%), Nasdaq 74% (from 73%), R2000 85% (from 84%). Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio ended the week at 17.22, the lowest since 17th December. The Ratio reached 22.66 on 2nd Feb, the highest since February ’20.
