A Value Area generated above 3435.5 (1mn poc) would be welcome, see yesterday’s highlighted comments on chart. Even better, would be Significant Buying (green) marked above that level. There is Support at 3387, the 1/2R off September high and price below that point would be a further sign of weakness.
Sentiment: My version of the Rydex Assets Ratio was slightly higher at 16.44. The ratio reached 17.14 last week, a 7month high. 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.
Stocks>50dyma Nyse 61% (from 55%), Nasdaq 66% (from 61%), R2000 65% (from 58%). Numbers >50 are supportive.
