Pre-open Tuesday 23rd March
Significant Responsive Buying (green-at-bottom) and Aggressive Buying (green-at-top) were marked yesterday. The Responsive Selling marked on Friday may have been the first since early February but possibly misleading (it was quadruple witching day). Either way the Buyers responded immediately after the open and there is no doubt about their control at the moment.
ES is likely to open above today’s First Level S/R at 1161.50. If this holds we’ll most likely see a break to new highs.
ST sentiment: My version of the Rydex Assets Ratio was up from 3.4 to 3.6. This number is getting high again. A price break out would probably see it higher still.
Along with the ISEE (equity only) index which came in at 207 (numbers above 200 are high).
