On 03/26 a Value Area was generated back above 3897. This represented a rejected test of that controlling price in the longer time-frame which is often a bullish pattern. As long as 3897 holds the distribution patterns suggest a move above 4150 but rejection above that level would be likely.
Stocks>50dyma
Nyse 82% (from 80%), Nasdaq 65% (from 66%), R2000 73% (unch). Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio reached 24.43 on 03/29, the highest since February ’20. Tuesday’s ratio was 23.4.
