posted 9.29 a.m. est
Pre-open comment Thursday 28th April
ES tested the First Level Support at 1342 early in the session but Wednesday’s VA was generated above this level. Later in the day Aggressive Buying was marked. We now have a green-at-top high which are usually tested during the following session, i.e. it is unusual for a green-at-top day to mark a high point of any significance.
3day Support = 1342
10day Support = 1333
5month Support = 1327
ST Sentiment: My version of the Rydex Assets Ratio reached 4.01 on Wednesday. This is the highest I have in my database and the first time the ratio has exceeded 4. By this measurement the public are extremely bullish which is usually a warning. Option ratios do not reflect this.
Supporting Charts (+ or – or ? for equities).
+ EURUSD: Today printed its highest level since December 2009.
+ UDX: Has today printed its lowest level since August 2008.
– TLT: Currently printing above the 91.82 (18month poc) which means it is in a strong position.
imo these charts are mixed but have a postive bias for equities.
