Tuesday’s RTH Value Area was generated entirely below 4181, see yesterday’s comments. That level needs to be recovered before I look at new longs. It could migrate (best guess would be to 4122.5) and that would change things. Next big Support is at 3897.
Sentiment: My version of the Rydex Assets Ratio was lower at 23.29. The ratio reached 30.77 on 04/26. This is the highest ratio ever and a truly extreme reading.
Stocks>50dyma
Nyse 71% (from 75%), Nasdaq 47% (from 49%), R2000 52% (from 56%). Numbers >50 are supportive.
