Daily analysis - Stock Market, Bonds, Forex and more
Thursday's RTH opened with a probe above Wednesday's Buying Day high but Sellers immediately auctioned ES back down to the Support. I've written that I'm staying bullish with the trend but would change that view very quickly with a RTH close below … [Continue reading]
I've written that I'm staying bullish with the trend but would change that view very quickly with a RTH close below 4115.50 (dashed line), the low of the most recent Buying Day. We can move that level to 4117.50 which is yesterday's Buying Day low. … [Continue reading]
Back on 6th April I noted that distribution patterns suggested a rally above 4150 but that the probe above that level would likely be rejected. That seems to have played out so far. I've also written that I'm staying bullish with the trend but … [Continue reading]
I'm staying bullish with the trend but will change that view very quickly with a RTH close below 4115.50 (dashed line), the low of the most recent Buying Day. There is minor (15 day) Support at 4121. Sentiment: My version of the Rydex Assets Ratio … [Continue reading]
from pre-open 16th April >>As noted on 6th April "the distribution patterns suggest a move above 4150", and that has now been achieved. I also wrote "rejection above that level would be likely". The distribution pattern I'm basing that on is … [Continue reading]
ChartProfit Chart Book - week ending 16th April 2021 … [Continue reading]
The Rydex Assets Ratio is a market sentiment indicator based on the flow of money in and out of bullish and bearish mutual funds. I believe the original indicator was based on just two funds in the Rydex family, the Nova fund which was bullish, and … [Continue reading]
As noted on 6th April "the distribution patterns suggest a move above 4150", and that has now been achieved. I also wrote "rejection above that level would be likely". The distribution pattern I'm basing that on is long-term so rejection may not be … [Continue reading]
Significant Buyers (green) have been very active, but effective. First sign of weakness in this trend is now a RTH close below 4115.50 (dashed line), the low of the most recent Buying Day which Tuesday. Sentiment: My version of the Rydex Assets … [Continue reading]
Significant Buying (green) was marked on Friday. The low of that Buying day is 4086.75. A RTH close below that level would be first sign of weakness in this trend. A move above 4150 is likely, see previous, highlighted comments on … [Continue reading]