I’ve written that I’m staying bullish with the trend but would change that view very quickly with a RTH close below 4115.50 (dashed line), the low of the most recent Buying Day. We can move that level to 4117.50 which is yesterday’s Buying Day low. Buyers responded strongly on Wednesday, auctioning ES higher throughout the RTH session and Aggressive Buying (green) was marked.
Sentiment: My version of the Rydex Assets Ratio was slightlylower at 29.1, having reached 30.3 on 04/19. That’s the first time the ratio has been above 30.
Stocks>50dyma
Nyse 73% (from 65%), Nasdaq 57% (from 46%), R2000 61% (from 51%). Numbers >50 are supportive.
