At the RTH open on Thursday, ES briefly tested 4367 from below and then ran lower. On Friday that area of Resistance was still a problem, see chart. As I wrote pre RTH on Wednesday “Bulls want ES printing above that level”. Below that is a weak position.
In the very minor timeframe, price relative to 4294 is worth monitoring today.
Sentiment: my version of the Rydex Assets Ratio was slightly lower at 31.85, down from 38.63 on 09/09, the highest ratio ever, indicating extremely hot sentiment.
