21st April 2020
Monday’s session generated a seventh Value Area above 2719, the major poc. ES needs to hold this Support to maintain a strong position.
Other key charts/levels we are monitoring:
FTSE: the major is at 5870 – chart found Resistance there last week, has not yet printed time above it.
IWM: the major is at 115.35 and chart found Support at that level last week.
TLT: 6mn Support is at 165.36. TLT closed above that level in a strong position.
FTSE: the major is at 5870 – chart found Resistance there last week, has not yet printed time above it.
IWM: the major is at 115.35 and chart found Support at that level last week.
TLT: 6mn Support is at 165.36. TLT closed above that level in a strong position.
Sentiment: My version of the Rydex Assets Ratio was almost unchanged at8.04. 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 18% (from 21%), Nasdaq 33% (from 35%), R2000 21% (from 24%). Numbers >50 are supportive.
