See yesterday’s highlighted comments. Pre-open today ES has printed as low as 2095.25, i.e. it has tested the First Level Support at 2095.50. First sign of weakness is time printed below this level.
Dayframe: The 25day poc just migrated to 2099.00 and this may be worth monitoring intraday for S/R and a clue re ST direction.
First Level Support = 2095.50 (3mn poc)
Second Level Support = ES 2045.00 (7mn poc); SPY 205.00
Stocks>50dyma numbers: Nyse 57% (from 61%), Nasdaq 51% (from 58%), R2000 53% (from 60%). Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio was higher at 10.62, the first higher ratio in seven days. The ratio fell to a 50day low recently at 9.91 which represented a 29.5% fall from 14.06 on 03/02 (the highest in the database).
Supporting Charts:
Bonds TLT: pre-open today is printing below 129.80, the 6mn poc, in a weaker price location.
Gold GLD: pre-open today is printing above 115.12, the 11mn poc, in a stronger price location.
Oil USO: for eleven days has been printing above 18.39, the 12mn poc, in a stronger price location.
EURUSD: fell since May last year to major 1/2R Support at 1.1241. Chart held above that level through February but broke that Support in March.
