Thursday’s RTH briefly tested the First Support at 4672.50 and then immediately rallied, that’s positive price action. Last four Value Areas have been printed entirely above that level. That’s a sign of strength. First indication of weakness in the longer-term would be a RTH close below 4645.75 (dashed), Friday’s Buying Day low.
Sentiment: my version of the Rydex Assets Ratio ended the week at 57.26, the highest ever, indicating extremely hot sentiment.
