Pre-open comment Thursday 21st July
Wednesday’s given levels performed well. 1327 capped the upside during the session and overnight 1315 has been the exact low.
Re 1327 I commented yesterday that “more time here could lift the maj poc back up to this level”. That hasn’t happened yet but should that occur, subsequent time above 1327 would be LT Bullish.
Dayframe: ES has printed as high as 1331.50 pre-open. If chart holds above 1327 post-open (first hour?) it would be a sign of ST strength.
First Level S/R = 1327 (prev poc) (132.18 SPY)
Support = 1315 (maj poc) (131.95 SPY)
Sentiment: My version of the Rydex Assets Ratio was higher at 3.60, a 38day high.
Supporting Charts (+ or – or ? for equities).
+ EURUSD: Currently holding above the band of maj LT support between 1.3920 to 1.3965.
+ Dollar Index: printing below the 74.96 poc at a 13dy low.
+ TLT: prints below the 3yr_poc at 96.28.
imo these charts are currently mixed for equities.
