emini 12th April 2019
The 1mn poc has migrated higher again, up to 2887. This is now First level Support and price relative to this level is important to monitor. Aggressive Buying (green-at-top) was marked on Wednesday. In the bigger picture ES has been printing time above 2818, the maj Value Area High, which is a bullish indication. Significant Selling (red-at-bottom) has not been marked at all this year. Note that the Rydex ratio reached a 6month high, see Sentiment below
Stocks>50dyma numbers: Nyse 69% (unch), Nasdaq 59% (from 60%), R2000 59% (unch). Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio was slightly lower at 20.90. Wednesday’s ratio at 21.23, was a 6month high.
