Pre-open Tuesday 13th April
From yesterday’s ebook “let’s assume higher until price gives us an indication of weakness. Marking Significant Sellers on the ES profile below 1183.50 would be a start.”
Monday generated a higher but very narrow Value Area and low volume.
Supporting Charts: Bonds (TLT) have closed higher for six days now and USDJPY hit an eight day low today. imo that’s not ST bullish for equities. EURUSD currently prints above the 1.360 poc but only just – If it can hold above that level it would be bullish for equities.
Sentiment: My version of the Rydex Assets Ratio was down slightly to 2.5. The ISEE (equity only) index settled high again at 252 and the 10dyma reached a new high of 237.5 indicating extreme public bullishness. VIX closed at 15.58 which is the lowest since July 2007.
