emini up from Support – 12th October 2018 – pre-open from Chartprofit
The major Support at 2718.00 has held for now with ES printing up to probe the 2774 Resistance pre-open. Price price time above that level would be the first minor sign of strength. Interestingly SPY and IWM also held their major Support following brief tests; SPY = 271.7, IWM = 153.5.
Resistance = 2774.00 (4mn poc)
major Support = 2718.00
Stocks>50dyma numbers:Nyse 14% (from 22%), Nasdaq 12.3% (from 15%), R2000 11% (from 16%). Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio fell to 14.93, the lowest since early May. There’s some fear showing in this number now. The peak reading is 27.55 recorded 09/07 which equalled the highest ratio in the database.
