The 4mn Support is at 4163. This held on a recent test and since then Aggressive Buyers (green) have been very active, and have marked five times in nine days, including yesterday. A RTH close below the low of Thursday’s Buying Day, 4293.25 (dashed), would be the first sign of weakness on the minor time-frame.
Sentiment: My version of the Rydex Assets Ratio is at 24.54. The ratio had fallen over the last five days while SPX has rallied to a new high. As mentioned, this pattern is usuallyu bullish in the ST. The ratio reached 31.27 on 06/15, the highest ratio recorded, indicating extremely hot sentiment which is usually a warning sign in the longer-term.
Stocks>50dyma
Nyse 46% (from 41%), Nasdaq 55% (from 52%), R2000 49% (from 44%). Numbers >50 are supportive.
