Last week was constructive. Previous week, w/e 01/29, Significant Sellers failed twice to auction ES below the major Support at 3672 (see chart) and from an overnight test of that level on the following Monday. Aggressive Buying was marked twice last week and has auctioned ES back above the 3mn at 3797 which is now First Level Support.
Stocks>50dyma Nyse 74%, Nasdaq 86%, R2000 84%. Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio ended the week at 18.0. The ratio reached 22.03 on 01/26, the highest since February last year.
