See previous highlighted comments on chart. Last week ES broke below the 3366.50 controlling price with Value Areas being generated below that level on Wed-Fri. Weak position. No clear local Support. Bulls would want to see that poc (now Resistance) recovered quickly.
Sentiment: My version of the Rydex Assets Ratio ended the week at 14.12. The ratio reached 17.14 on 10/14, a 7month high. The ratio fell to 3.35 on 03/17, the lowest since early 2016. The ratio reached 28.62 on 12/27, the highest reading in my database.
Stocks>50dyma Nyse 31%, Nasdaq 40%, R2000 38%. Numbers >50 are supportive.
