On 11/04 ES moved into a strong position above the 3366.50 controlling price which is now important LT Support.
On Wednesday last week I marked Aggressive Selling (red) auctioning price back to the minor controlling price at 3551.0 which was tested on Thursday and Friday. Value Areas on both days were generated entirely above that First Level Support which is encouraging. Acceptance (time) spent below that level would increase the chances of re-testing 3366.50 so Bulls would hope to see price making progress above 3551 asap.
Sentiment: My version of the Rydex Assets Ratio reached 18.81 on Thursday, the the highest since February.
Stocks>50dyma Nyse 85%, Nasdaq 79%, R2000 85%. Numbers >50 are supportive.
