Last week ES broke below the 3366.50 controlling price and four Value Areas have now been generated below that level. Weak position but some minor Support has emerged; at 3271 (10day). ES found Support there at the day-session low on Monday. Useful reference in the ST.
Sentiment: My version of the Rydex Assets Ratio was almost unchanged (again) at 14.44. The ratio reached 17.14 on 10/14, a 7month high. The ratio fell to 3.35 on 03/17, the lowest since early 2016. The ratio reached 28.62 on 12/27, the highest reading in my database.
Stocks>50dyma Nyse 43% (from 35%), Nasdaq 47% (from 45%), R2000 49% (from 43%). Numbers >50 are supportive.
