posted 9.29 a.m. edt
Pre-open comment Wednesday 20th July
Tuesday’s Support at 1307.50 (25dypoc) held from the Open and later in the day Aggressive Buying was marked as ES broke above the 1315 Resistance (maj poc) indicating ST strength. Pre-open today ES has printed some time at 1327 which was the previous maj poc – more time here could lift the maj poc back up to this level. Should that occur, time above 1327 would be LT Bullish.
Dayframe: As described in yesterday’s webcast, all major charts are back in stronger price location but in this volatile market I want to see ES hold above 1327 post-open before I assume higher.
Firs Level S/R = 1327 (prev poc) (132.18 SPY)
Support = 1315 (maj poc) (131.95 SPY)
Sentiment: My version of the Rydex Assets Ratio was higher at 3.48 (from 3.14).
Supporting Charts (+ or – or ? for equities).
+ EURUSD: Currently holding above the band of maj LT support between 1.3920 to 1.3965.
? Dollar Index: pre-open UDX is printing at the 74.96 poc.
– TLT: prints above the 3yr_poc at 96.28.
imo these charts are currently mixed for equities.
