It’s been a constructive week.
In the w/e 01/29, Significant Sellers failed twice to auction ES below the major Support at 3672 and from an overnight test of that level on Monday, Sig Buyers re-entered and there has been a strong rally this week. ES is now printing comfortably above the 3mn at 3797 which is now First Level Support.
Stocks>50dyma Nyse 70% (from 64%), Nasdaq 84% (from 78%), R2000 81% (from 73%). Numbers >50 are supportive.
