w/e 01/29, Significant Sellers failed twice to auction ES below the major Support at 3672. Following a rejected test of that level Aggressive Buying has been marked five times. First Level Support is at 3797.
The 1mn is at 3907, clearly Resistance now. This is a useful reference in the short-term. Yet to mark Aggressive Selling. Major Support at 3797.
Stocks>50dyma Nyse 75% (from 74%), Nasdaq 80% (from 83%), R2000 83% (from 82%). Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio was slightly higher at 20.11. The Ratio reached 22.66 on 2nd Feb, the highest since February ’20.
