S&P 500 emini pre-open Monday 23rd March

Last week no Significant Buying or Selling was marked but technicals improved. The 7month poc migrated to 2066.50 and is now First Level Support. Bulls would want to see ES holding above this level. ES ended the week strongly probing First Level Resistance on Friday, 2107.00. Breadth imporoved, see below, and Price Momentum improved, see below.

Stock Index ETFs: Momentum (PriceOsc) is positive and up for IWM (smallcaps). SPY, DIA and QQQ are negative but up.

First Level Resistance = 2107.00 (50day poc)
First Level Support = 2066.50 (7mn poc)

Breadth: All Major Market Charts are now positive.
Stocks>50dyma numbers: Nyse 65%, Nasdaq 66%, R2000 69%, UK 76%. Numbers >50 are supportive.

Sentiment: My version of the Rydex Assets Ratio ended the week at 11.73. On 03/02 the ratio reached 14.06, the highest ratio in the database.

Supporting Charts:
Bonds TLT: Has now retraced back above 130.75, which is the 1/2R off the Jan high. Pre-open chart is printing above this level and this is strong price location if it holds.
Dollar Index: on 03/13 chart printed its highest level since 2003. Has corrected a little but there is Support at 94.67, the 12mn poc.
Gold GLD: Last week printed its lowest level this year but has rallied a little from there. Resistance at 115.12, the 12mn poc.
Oil USO: printed a new low last week.
EURUSD: fell since May last year to major 1/2R Support at 1.1241. Chart held above that level through February but this month has broken that Support.