emini 20th April 2018 – pre-open from Chartprofit
See yesterday’s highlighted comments. Thursday’s session generated a lower Value Area down from the Resistance at 2718. On Monday I marked Aggressive Buying; in the ST I view price printing below the low of a green-at-top day as a warning, and that level is 2665. Time spent above 2700 could lift the 9mn poc (currently at 2647).
Index ETFs Support: SPY 264.50 = 9mn; IWM 153.50 = 1year
Stocks>50dyma numbers: Nyse 59% (from 65%), Nasdaq 56% (from 60%), R2000 62% (from 67%). Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio was higher at 15.79. Up from 13.93, a 43 day low. This week the ratio has indicated some nervousness. I’ve been concerned that we didn’t see any fear registering in March as the market fell but Bull fund assets fell this week to the lowest level since October.
