The first sign of weakness in the LT would be a Value Area printed entirely below 4391.50, the 2month control. That was a possibility on Thursday but didn’t happen. A RTH close above 4450, Wednesday’s high, would negate any ST implications of that Selling Day.
Sentiment: my version of the Rydex Assets Ratio ended the week at 30.00. On Friday 30th July, the ratio reached 38.57, the highest recorded, indicating extremely hot sentiment.
Stocks>50dyma
Nyse 43% (from 38%), Nasdaq 39% (from 33%), R2000 40% (from 32%). Numbers >50 are Supportive. Numbers >50 are Supportive.
