Pre-open Thursday enough time was spent at 2095.00 to migrate the poc, very slightly, back to that price. ES opened just above that level and quickly auctioned higher. As long as ES prints above 2095.00l it is a strong price location.
First Level Support = 2095.00 (10mn poc)
Momentum (PriceOsc) although negative for DIA, SPY and QQQ has turned up for all four major stock index ETFs. Breadth improved, see below.
Stocks>50dyma numbers: Nyse 48% (from 40%), Nasdaq 61% (from 55%), R2000 60% (from 52%). Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio was almost unchanged at 9.16 which is close to the 7mn low at 9.0. The highest ratio in the database was at 14.06 on 03/02
Supporting Charts: see webcast
