Following the test of the 3672 major Support overnight on Monday, ES has recovered back above 3797, the 3mn. Value Areas on Tue and Wed were generated entirely above that level. This is a strong position with First Level Support at 3797.
Stocks>50dyma Nyse 64% (from 62%), Nasdaq 78% (from 79%), R2000 73% (from 73%). Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio was lower at 19.78. Last week the ratio reached 22.03, the highest since February last year.
