posted 9.26 a.m. est
Pre-open Thursday 24th June
On Wednesday there was a single probe above the 1094 poc in the p.m. which was immediately rejected. This emphasises the validity of this level.
Dayframe: weakness in the ST would be indicated if ES struggles to print above 1081 (dotted) which is the 1/2R off the May low and was support yesterday. Intraday resistance from this level would indicate further weakness.
My version of the Rydex Assets Ratio was up slightly from 1.6 to 1.62. No panic here which is probably not bullish.
Supporting Charts (technicals based on daily Price Oscillator)
– USDJPY: broken down below the 90.21 poc.
+ EURUSD: printing back above the 1.2133 major halfway level and the Price Osc is increasing.
? UDX: Found support at the 85.14 poc but Price Osc still falling.
– IEF broke above the maj resistance at 94.00 to a new 12month high.
imo these charts indicate a bearish bias for equities.
