Last Wednesday’s RTH found Support at 4391.50 (the 2mn controlling price). Value Areas since then have been generated above that level which is an indication of strength. First sign of weakness would be a Value Area printed entirely below 4391.50. Significant Sellers (red) have not been marked for 35 days.
Sentiment: On Friday 30th July, my version of the Rydex Assets Ratio reached 38.57, the highest ratio recorded, indicating extremely hot sentiment. Monday’s ratio was 32.39.
Stocks>50dyma
Nyse 46% (from 49%), Nasdaq 44% (from 47%), R2000 42% (from 46%). Numbers >50 are Supportive.
