The 3mn controlling price at 4163.0 has capped the upside this week. On Tuesday there was a RTH close below 4135, Friday’s Buying Day low, and this an indication of weakness, see yesterday’s comments. As written at the start of the week, a Value Area generated above 4163 would be bullish – we haven’t seen that yet.
Sentiment: My version of the Rydex Assets Ratio was unchanged at 23.20. On 04/26 the ratio reached 30.77. That is the highest ratio ever and a truly extreme reading.
Stocks>50dyma
Nyse 70% (from 74%), Nasdaq 48% (from 51%), R2000 53% (from 58%). Numbers >50 are supportive.
