A Value Area generated entirely below 4340 (1mn poc) would be the first sign of weakness on the longer timeframe. Friday’s VA didn’t quite do it but today’s might. Next level of important Support is 4163 (6mn).
Sentiment: On 8th July, my version of the Rydex Assets Ratio reached 34.73, the highest ratio recorded, indicating extremely hot sentiment. Friday’s ratio was 31.78.
Stocks>50dyma
Nyse 29%, Nasdaq 29%, R2000 26%. Numbers >50
