emini 16th April 2020 – pre-open from ChartProfit
Wednesday’s session generated a fourth Value Area above 2719, the major poc, but disappointingly this one was back below 2786 (dashed line) which is the 1/2R off this year’s high. We have two clearly defined levels here and easy to see where ES moves into a strong or weak position.
Three other key charts/levels to monitor re risk on/off:
FTSE: the major is at 5870 and chart found Resistance there this week.
IWM: the major is at 115.35 and watching to see if chart can hold that Support.
TLT: 6mn Support is at 165.36. TLT popped above that poc yesterday. Can it hold?
FTSE: the major is at 5870 and chart found Resistance there this week.
IWM: the major is at 115.35 and watching to see if chart can hold that Support.
TLT: 6mn Support is at 165.36. TLT popped above that poc yesterday. Can it hold?
Sentiment: My version of the Rydex Assets Ratio was almost unchanged at 6.65. The index fell to 3.35 on 03/17, the lowest since early 2016.
Stocks>50dyma numbers: Nyse 14% (from 18%), Nasdaq 24% (from 28%), R2000 15% (from 20%). Numbers >50 are supportive.
