Pre-open comment Tuesday 26th July
Once again the 1327poc came into play, providing Support early in yesterday’s session. Also the exact overnight low has been 1327. First sign of weakness comes if this level fails but no markable Response from the Sellers so far.
Resistance = 1341 (min poc) (133.92 SPY)
First Level S/R = 1327 (prev poc) (132.18 SPY)
Support = 1315 (maj poc) (131.95 SPY)
Sentiment: My version of the Rydex Assets Ratio reached 3.65, a 40day high.
Supporting Charts (+ or – or ? for equities).
+ EURUSD: Recently rejected a probe into the band of maj LT support between 1.3920 to 1.3965. Printed a 15dy high today.
+ Dollar Index: In a weak position below the 74.96 poc and printed a 35dy low today.
+ TLT: oscillating around the 3yr_poc at 96.28 since late May. Currently prints below that level.
imo these charts currently have a positive ST bias for equities.
