SP500 futures at new high for this rally

On 05/14, There was a brief, rejected test of First Level Support at 2786, the 1/2R off this year’s high (dashed line on chart). ES spiked higher early last week and price held the higher level through the rest of the week. This week ES is sharply higher. First Level Support is now at 2926.0, the 2yr poc. The most important Support is at 2719, the maj poc. ES needs to hold this level to maintain a strong position in the longer timeframe.

FTSE: the major poc is at 5870 and FTSE is printing above that level in a stronger position. Resistance at 6312, 1/2R off last year’s high.
IWM: the major poc is at 115.35. The low of the dip this month came in above that Support. The major 1/2R from the 2018 high is at 134.50 and IWM is printing above that level in a strong position.
TLT: 6mn poc is at 165.36. TLT is printing below that level in a weak position.

Sentiment: My version of the Rydex Assets Ratio was almost unchanged at 8.98. The S&P has retraced more than half this year’s decline but the ratio has retraced less than 25% of its own decline. The index fell to 3.35 on 03/17, the lowest since early 2016. The index reached 28.62 on 12/27, the highest reading in my database.

Stocks>50dyma numbers: Nyse 91% (from 86%), Nasdaq 93% (from 86%), R2000 93% (from 87%). Numbers >50 are supportive.