Stock market today 30th September 2016 – pre-open from Chartprofit
ES analysis: Thursday’s session generated another overlapping Value Area. Overnight ES has printed as low as 2135.75 again approaching First Level Support but as long as chart holds above 2135.00 it is in a strong price location.
First Level Support = 2135.00 = minor (17day) poc
Major poc Support = 2087.00
Pulse Chart: Breadth weakened again – back to negative but Daily Momentum (PriceOsc) for SPY although still negative ticked up.
Stocks>50dyma numbers: Nyse 44% (from 53%), Nasdaq 53% (from 61%), R2000 50% (from 60%). Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio was unchanged at 7.24. The ratio reached 7.9 on 08/26 which is the highest ratio in the last eight months.
Supporting Charts:
see today’s video
click to enlarge graphic
