SP500 emini 17th April pre-open from ChartProfit
Thursday’s session generated a fifth Value Area above 2719, the major poc. See 60minute chart below – ES finding Support and consolidating above the poc, which is encouraging, see Tuesday’s highlighted comments. Pre-open today ES is printing above 2786 (dashed line) which is the 1/2R off this year’s high.
Other key charts/levels we are monitoring, see yesterday’s comments:
FTSE: the major is at 5870 – chart found Resistance there on Tuesday, has not yet printed time above it.
IWM: the major is at 115.35 and chart found Support at that level on Thursday.
TLT: 6mn Support is at 165.36. TLT popped above that poc yesterday and held on Thursday.
FTSE: the major is at 5870 – chart found Resistance there on Tuesday, has not yet printed time above it.
IWM: the major is at 115.35 and chart found Support at that level on Thursday.
TLT: 6mn Support is at 165.36. TLT popped above that poc yesterday and held on Thursday.
Sentiment: My version of the Rydex Assets Ratio was slightly higher at 7.08. The index fell to 3.35 on 03/17, the lowest since early 2016.
Stocks>50dyma numbers: Nyse 15% (from 14%), Nasdaq 27% (from 24%), R2000 17% (from 15%). Numbers >50 are supportive.
