Strong day on Wednesday. ES exceeded 3907, the 1mn Resistance, now ST Support, and Aggressive Buying (green) was marked. 3907 is a useful reference in the short-term and exactly where ES is printing as I write pre-open.
In the longer term the Major Support at 3797 held on the recent decline.
Stocks>50dyma Nyse 79% (from 74%), Nasdaq 81% (from 76%), R2000 86% (from 80%). Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio was slightly higher at 20.60. The Ratio reached 22.66 on 2nd Feb, the highest since February ’20.
