Pre-open comment Thursday 30th December
Wednesday’s session low came in at 1255, just above yesterday’s First Level S/R at 1253.50. Overnight ES low has been 1253.75. As long as ES continues to find support at the obvious levels then I assume higher. Short trades still eliminated for me as last imbalance was Buying (green).
First Level S/R = 1253.50 (8day poc)
More important Support = 1238.50 poc
ST Sentiment: My version of the Rydex Assets Ratio reached 3.40 on 23rd which is the second highest level I have in my database. Wednesday was up slightly to 3.20.
Supporting Charts
+ EURUSD: chart appears to have formed a higher low on 1.3087, the 1/2R off the June low. Eight day high today with Price Osc up for seventeen consecutive days.
+ UDX: Back below the 80.15 major 1/2R and at a ten day low.
+ TLT: currently prints below the 95.33 maj poc.
imo these charts have a positive bias for equities.
