Pre-open Thursday 15th April
Significant Buyers were active again on Wednesday, Aggressively (green-at-top) auctioning ES to a new high. The high of a green-at-top day is tested during the following session 80% of the time. Still no Response from the Sellers.
First Level S/R is the very minor 4day poc at 1195.
Sentiment: The ISEE (equity only) index settled high again at 263. Ten out of the last twelve days have recorded above 200. This indicates extreme public bullishness which isn’t as apparent in the Rydex data. My version of the Rydex Assets Ratio was up only slightly from 1.9 to 2.0.
VIX closed at 15.59 just above the close on Tuesday which was the lowest since July 2007.
Supporting Charts with important levels. Pre-open:
USDJPY prints below 93.60
EURUSD prints below 1.360
UDX prints above 80.15
imo these charts are ST bearish for the market
