ES emini 10th March 2020

Last week ES turned down from the 1/2R Resistance at 3125.50, dashed line. With yesterday’s price action that 1/2R has fallen to 3046.25, dashed line. The major poc Support at 2719 was tested during Monday’s session, see yesterday’s highlighted comments.  There has been a bounce from there. Price below the 2719 Support would put ES in a further weakened position.

Stocks>50dyma numbers: Nyse 5% (from 11%), Nasdaq 6% (from 12%), R2000 6% (from 11%). Numbers >50 are supportive.

Sentiment: My version of the Rydex Assets Ratio was lower at 9.58, from 12.81, the lowest reading since 23rd October. The ratio reached 28.6 in December, the highest in my database.