Pre-open Thursday 31st December
The First Level Resistance at 1123 poc capped Wednesday’s price action but pre-open (so far) today the low is 1123 – a minor sign of strength if ES can consolidate above that level.
For now at least price action is responding positively with the increasingly positive market sentiment discussed in the webcast. The Rydex timers are certainly optimistic – Wednesday saw a reduction in the Bear Fund Assets that I follow to the lowest since 1st october. That lifted my version of the Rydex Assets Ratio up again to 2.83
