posted 07.45 a.m. est
Dayframe: The 15dy poc is at 2081.00. On Monday Buyers Reacted (green-at-bottom) to a probe of that level. Price below that minor Support post-open would negate any ST positive implications of that mark and time below that level would suggest a test of 2066.00. Pre-open ES prints close to 2081.00.
First Level Support = 2066.00 (3mn poc)
Second Level Support = 1962.00 (6mn poc) and SPY 197.20 (8mn poc)
Stock Index ETFs: Momentum (PriceOsc) has now turned positive for SPY and DIA, see previous comments.
Stocks>50dyma numbers: Nyse 68% (unch), Nasdaq 65% (unch), R2000 73% (from 74%). Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio was higher at 12.86, due to Bear Fund assets that I follow falling to a new low. There are only six ratios higher than this in the database, the highest being 13.73 recorded earlier in the month.
Supporting Charts:
Bonds TLT: mid-month there was a probe above the October high to print the highest level since August 2012. Chart remains in a LT strong price location as long as it holds above 117.14 (maj poc).
Dollar Index: mid-month held the minor Support at 87.70 (2mn poc) and on Monday printed its highest level since April 2006.
Gold GLD: remains in a weak price location below the 119.87 maj poc.
Oil USO: on 12/12 broke below the extreme low of Feb 2009 and on Monday printed a new low.
EURUSD: probed the 4mn Time Resistance at 1.2475 mid-month and is lower from there. Is today printing below 1.2300, the maj poc, and has printed its lowest level since August 2012.
