ST: Friday’s Value Area was generated entirely above 4483, the minor (15day) control, that was a positive in the ST. That level is now First Level Support.
LT: The first sign of weakness in the LT would be a Value Area printed entirely below 4391.50, the 2month control.
Sentiment: my version of the Rydex Assets Ratio was lower at 27.71. On Friday 30th July, the ratio reached 38.57, the highest recorded, indicating extremely hot sentiment.
Stocks>50dyma
Nyse 57% (from 61%), Nasdaq 58% (from 61%), R2000 58% (from 63%). Numbers >50 are Supportive.
