posted 07.10 a.m. est
Pre-open comment Monday 2nd May
Last week I marked two instances of Significant Buying and no Significant Selling. No Selling imbalances have been marked for eleven days. Short Trades have been eliminated for me since pre-open 15th April.
The Chartprofit Market Timing system furned positive for the Nyse, Nasdaq and R2000 Market Charts.
Weekly Structure was Bullish. Monday on the low, Friday on the high and a higher week.
Minor 5day Support = 1355
5month Support = 1327
ST Sentiment: My version of the Rydex Assets Ratio was down on Friday to 3.32 from 4.02 on Thursday which was the highest ratio I have in my database.
Supporting Charts (+ or – or ? for equities).
+ EURUSD: Thursday printed its highest level since December 2009.
+ UDX: Friday printed its lowest level since August 2008.
– TLT: Friday printed a 30day high.
imo these charts are mixed but have a postive bias for equities.
