The 1 mn controlling price is at 3435.5. Price relative to this level is important to monitor at the start of this week, above/below = strong/weak, especially as the distribution that this poc relates to looks complete or close to completition which would suggest a new directional move could be imminent.
There is natural Support at 3387, the 1/2R off September high, and more important poc Support at 3370.50.
Sentiment: My version of the Rydex Assets Ratio ended the week at 16.78. The ratio reached 17.14 on 10/14, a 7month high. The ratio fell to 3.35 on 03/17, the lowest since early 2016. The ratio reached 28.62 on 12/27, the highest reading in my database.
Stocks>50dyma Nyse 64%, Nasdaq 68%, R2000 67%. Numbers >50 are supportive.
