emini analysis pre-open Tuesday 21st June
Please read previous highlighted comments. Monday generated a higher Value Area with ES probing the major poc at 2087. Significant Buying marked above this level would be a real positive. Price below the proven Support at 2041 would be a negative.
First Level Support/Resistance = 2087.00 (maj poc)
Second Level Support = 2041.00 (poc of current distribution)
Market Charts: All major U.S. Market Charts remained positive. U.K. turned negative.
Stocks>50dyma numbers: Nyse 60% (from 50%), Nasdaq 53% (from 46%), R2000 61% (from 53%). Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio was slightly higher at 5.07. On 04/26 the ratio reached 5.27 which was the highest level since early January. On 02/19 the ratio fell to 2.64 which was the lowest since November 2012.
click graphic to enlarge
