Tuesday’s session printed a fourth Value Area below 2719, the major poc. That’s not what Bulls want to see. Price above that level would be a big positive.
Sentiment: My version of the Rydex Assets Ratio was lower at 3.35, the lowest since early 2016. The index reached 28.62 on 12/27, the highest reading in my database. Only twice before had the ratio printed above 26. Once in Jan 2018 and the market sold-off quickly, and once in Aug 2018 after which the market traded sideways for a month and then sold-off.
