Pre-open Tuesday 20th July
Yesterday I suggested ES would quite likely probe down to potential support at 1050/1051 (see highlighted above). Pre-open low is 1050.75.
Dayframe: ES printing below 1050 puts it in a ST weak price location.
First Level Resistance today is 1066 which is the 10dyPoc.
As I said yesterday longs are eliminated for me on any timeframe.
Sentiment: My version of the Rydex Assets Ratio was down from 1.14 to 1.10.
Supporting Charts:
imo Supporting Charts are mixed for equities:
but dollar index has possibly found support and EURUSD may have stalled at least – if so these charts will not be helpful for equities. Also, IEF and TLT show no signs yet of breaking uptrend.
