See previous comments. Buyers have been active this week (green). ES made another new high for this rally on Thursday and as long as it holds above 2041.00 it is in a strong price location.
First Level Support = 2057.00 (minor poc)
Second Level Support = 2041.00 (2mn poc)
Stocks>50dyma numbers: Nyse 87% (from 89%), Nasdaq 79% (from 81%), R2000 82% (from 84%). Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio was lower at 4.84. Down from Wednesday’s 5.20 which was a three month high. On 02/19 the ratio fell to 2.64 which was the lowest since November 2012.
Supporting Charts:
See today’s video
