emini 13th July 2018 – pre-open from Chartprofit
Thursday’s session generated a higher Value Area after Wednesday found Support at 2772, the minor poc, see Tuesday’s comments. Aggressive Buying (green) was marked. Overnight ES has tested above 2801, the 9mn VAH, see Thursday’s highlighted comments. Price acceptance (time) at this level would be a positive. First sign of ST weakness would be time printed below 2772 and price below 2718 would be the first sign of weakness in the longer term.
LT Support = 2718.00 (12mn poc)
Stocks>50dyma numbers: Nyse 60% (from 58%), Nasdaq 62% (from 61%), R2000 64% (from 65%). Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio was almost unchanged at 22.05. The highest ratio in the database is 27.55 recorded on 01/30.
Other Charts: see today’s video
