pre-open Wednesday 25th April 2018
See previous highlighted comments. In Tuesday’s session Aggressive Selling (red-at-bottom) was marked below the 2647 poc Support. This is an indication of weakness – a Value Area generated entirely below that level would be a further negative.
Index ETFs: SPY 264.50 = 9mn; IWM 153.50 = 1year
Stocks>50dyma numbers: Nyse 49% (from 54%), Nasdaq 50% (from 54%), R2000 57% (from 59%). Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio was lower at 18.77. Down from 13.93 last Wednesday, a 43 day low which indicated some nervousness from the Rydex traders. 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.
