Pre-open Wednesday 16th December
No Significant Buying or Selling marked for four days now – we’re due an appearance from one or the other. 1108 poc is still First Level S/R. As long as ES holds above there it’s in a strong position. The negative is the dollar strength and the near-term positive was the Rydex data but…
Rydex Bull fund assets were well up on Tuesday and the Bear fund assets were down. This is a more obvious response from the Rydex timers with the market close to the top of the recent trading range and the prospect of the seasonal rally. The stock market isn’t always obvious though and my version of the Rydex Assets Ratio is now well above 2.
