posted 9.07 a.m. est
Pre-open comment Wednesday 27th April
ES session low Tuesday was 1334.50, i.e. holding above the minor poc at 1333. This was a further indication of ST strength. February’s high was exceeded and the SP500 index reached its highest level since June 2008. No Response marked from the Sellers. Buyers in control. Short trades eliminated since pre-open Friday 15th.
First Level S/R = 1342
10day Support = 1333.00
5month Support = 1327.00
ST Sentiment: My version of the Rydex Assets Ratio was up again to 3.66 from 3.55. The ratio reached 3.99 on Thursday 7th April which is the highest I have in my database.
Supporting Charts (+ or – or ? for equities).
+ EURUSD: Today printed its highest level since December 2009.
+ UDX: Has today printed its lowest level since August 2008.
– TLT: Currently printing above the 91.82 (18month poc) which means it is in a strong position.
imo these charts are mixed but have a postive bias for equities.
