ES consolidated for seven days having stalled at the 2094 maj poc with no Significant Buying being marked, see previous highlighted comments. On Tuesday Aggressive Buying (green-at-top) was marked as ES broke above that level. We have three days of potentially high volatility but if chart holds above 2094.00 it is in a strong price location.
Support is 2087.00 (5mn poc) to 2094.00 (maj poc)
Stocks>50dyma numbers: Nyse 67% (from 63%), Nasdaq 64% (from 63%), R2000 68% (from 66%). Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio was higher at 9.00 which is a 70day high.
Supporting Charts:
Bonds TLT/IEF : on Tuesday TLT broke above the Resistance at 121.40 which is strong price location if it holds. IEF, the 7-10 yr ETF, recently found Support at 105.00 it’s maj poc Support, and yesterday broke above 106.60 (18mn poc).
Dollar Index: on Monday printed its highest level since the March high. Close to that level today.
Gold GLD: printed a new five year low last week. Very weak price location.
Oil USO: I need to see USO printing above 14.28, the 1/2R off August low before considering the loing side. Currently in a weak price location.
EURUSD: on Monday printed its lowest level since April. Close to that level today.
