emini 11th May 2020 from ChartProfit
Dayframe: Aggressive Buying (green-at-top) was marked on Friday. Any ST positive implications of that Buying Day would be negated if ES prints below Friday’s day-session low (2895.75) during today’s session. Pre-open today that has already happened. Note that the previous time Aggressive Buying was marked (04/29) it failed to auction the market higher.
Longframe: see previous highlighted comments on chart.
FTSE: the major is at 5870 – last week FTSE broke back above the poc to a stronger position which it is holding (just) today. Bulls would not want to see price printing time below 5870.
IWM: the major is at 115.35 and chart found Support at that level on 04/16. Last week there was a rejected test of the Resistance at 133, the major 1/2R, and IWM sold off sharply from there.
TLT: 6mn poc is at 165.36. TLT closed below that level on Friday.
Sentiment: My version of the Rydex Assets Ratio ended the week at 8.64. Lower over the week with SPX higher. The index fell to 3.35 on 03/17, the lowest since early 2016. The index reached 28.62 on 12/27, the highest reading in my database.
Stocks>50dyma numbers: Nyse 66%, Nasdaq 75%, R2000 67%. Numbers >50 are supportive.
