The 3220 area of Support held up well yesterday, see yesterday’s pre-open comments, highlighted. Bulls would want to see that level hold but new longs still eliminated, at least until Significant Buying is marked again. Price below 3220 would further weaken the position imo.
Stocks>50dyma Nyse 30% (from 48%), Nasdaq 29% (from 41%), R2000 26% (from 42%). Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio was lower at 11.61. On 09/01 the ratio reached 14.37, the highest since early March. 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.
Key charts
FTSE 100: broke major Support at 5870 on Monday. Bulls would want to see that recovered.
DAX: the 4yr is at 12240. DAX tested that Support in late July and rallied.
