On Wednesday, ES broke below 4226, the minor Support (16day) and then briefly tested the First longer-term Support at 4197 (see chart) before bouncing back to find Resistance at the 16dy and fall again. Time below 4197 would suggest a test of the longer-term Support (3mn) at 4163.
Sentiment: My version of the Rydex Assets Ratio was slightly lower at 30.99. On Tuesday the ratio reached 31.27, the highest ratio recorded indicating extremely hot sentiment.
Stocks>50dyma
Nyse 60% (from 65%), Nasdaq 59% (from 59%), R2000 60% (from 60%). Numbers >50 are supportive.
