The 3mn controlling price has migrated lower to 4163.0. Price relative to that level is now important to monitor. A Value Area generated above 4163 would be bullish. Pre-open ES is printing below that point. Aggressive Buying (green) was marked on Friday, that’s encouraging. Breadth numbers improved on Friday, see below.
Sentiment: My version of the Rydex Assets Ratio ended the week at 24.49. On 04/26 the ratio reached 30.77. That is the highest ratio ever and a truly extreme reading.
Stocks>50dyma
Nyse 74%, Nasdaq 51%, R2000 58%. Numbers >50 are supportive.
