Pre-open comment Wednesday 9th March
Little to add to yesterday’s comments (highlighted). ES coiling for next directional move? see daily chart below.
Pre-open ES is back at 1318 which is now the 4month poc. The 8dayVAH moves to 1325 which is the overnight high.
First Level S/R = 1318.00 Maj Support 1281.50
8dayVAH = 1325 8dayVAL = 1306
ST Sentiment: My version of the Rydex assets Ratio was highr at 3.27.
Supporting Charts (+ or – or ? for equities).
? EURUSD: In strong price location but may be turning down. Overbought technically and PriceOsc is negatively diverging.
? UDX: In weak price location but may be turning up. Oversold technically and PriceOsc is positively diverging.
+ TLT: did not hold above the 6month poc at 91.80. Weak position.
imo these charts are mixed and it is difficult to imply a bias for equities.
