By the middle of last week ES had moved into a strong position above the 3366.50 controlling price which is now important Support, see previous highlighted comments on chart. Pre-open today ES has accelerated higher on vaccine news.
Sentiment: My version of the Rydex Assets Ratio ended the week at 13.69. Last week the market rallied strongly and the ratio fell. This is usually bullish in the ST.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 60%, Nasdaq 61%, R2000 60%. Numbers >50 are supportive.
