Pre-open Wednesday 14th April
Significant Buyers were active again on Tuesday. There has been no Significant Selling marked since 19th March. Buyers Responded just above First Level support at 1183.50 and were active again in the p.m. aggressively closing ES strong. This is Buyers obviously still in control of the dayframe.
Despite the negative divergences, the extreme LT Sentiment readings, time pivot etc we have not had even a minor indication from the dayframe analysis that control is shifting away from the Buyers.
Sentiment: On a day that finished strong my version of the Rydex Assets Ratio was down from 2.5 to 1.9. Bull fund assets I follow were almost unchanged but Bear fund assets increased sharply. This is normally ST bullish for the market (contrarian).
Supporting Charts: unchanged (see comments yesterday).
