The minor control migrated to 4526.5, during Tuesday’s RTH. This is now First Resistance. ES is currently printing below that level in a weaker ST position. 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 reached 38.40 last week. There is only one ratio higher than this which was on 30th July at 38.57. Sentiment is running very hot again.
Stocks>50dyma
Nyse 52% (from 61%), Nasdaq 55% (from 60%), R2000 53% (from 60%). Numbers >50 are Supportive.
