posted 9.24 a.m. est
Pre-open comment Wednesday 29th December
Longframe: All Market Timing Charts remain positive.
Significant Buying has been marked five times in the last eight days. Buyers Responded on Monday (green-at-bottom).
First Level S/R = 1253.50 (7day poc)
More important Support = 1238.50 poc
ST Sentiment: My version of the Rydex Assets Ratio reached 3.40 on 23rd which is the second highest level I have in my database. Now down slightly at 3.1.
ISEE (Equity only) Index closed at 219 bringing the 10dy ma to 228.8, off its recent peak of 266.6
Supporting Charts
? EURUSD: 1.3087, the 1/2R off the June low has been support for seven consecutive days. Printing value below this level would be bearish.
? UDX: Has not yet broken above the consolidation pattern which has been basing on the 80.15 major 1/2R (breakout higher would be a negative for equities).
+ TLT: currently prints below the 95.33 maj poc.
imo these charts are mixed and do not imply an obvious bias for equities.
