Wednesday’s RTH found Support at 4391.50 (the 2mn controlling price). Thursday’s Value Area was higher and Aggressive Buying (green) was marked. First sign of weakness would be a Value Area printed entirely below 4391.50. Significant Sellers (red) have not been marked for 33 days.
Sentiment: On Friday, my version of the Rydex Assets Ratio reached 38.57, the highest ratio recorded, indicating extremely hot sentiment. Thursday’s ratio was unchanged at 31.7.
Stocks>50dyma
Nyse 44% (from 36%), Nasdaq 41% (from 38%), R2000 40% (from 32%). Numbers >50 are Supportive.
