Pre-open Thursday 21st January
80% of the time a green-at-top high gets tested the following day (Tuesday’s was not) and 90% get tested within two days (we’ll see). Whether it does or not the fact that the last imbalance was buying (green) means I will not look to short yet.
Most likely bullish development in the short term would be more time spent (value built) around 1135 and then obvious support (higher low) from that level.
Most likely bearish development in the short term would be ES struggling to build value above 1135 and then breaking below 1129.
Still no Significant Selling marked though.
ST sentiment:
My version of the Rydex Assets Ratio is back above 3 (extremely high).
