emini 9th July 2018 – pre-open from Chartprofit
I’ve been looking for Aggressive Buying (green) marked above 2718 or Aggressive Selling (red) marked below to indicate the next directional move. That hasn’t happened yet. Since Aggressive Buying was marked 50 days ago the Sellers have had plenty of time to auction the market lower and they haven’t effectively achieved that – just a test of that poc. ES closed strong on Friday and today has printed above 2772, the minor poc.
LT Support = 2718.00 (12mn poc)
Market Charts: All major Market Charts are now positive.
Stocks>50dyma numbers: Nyse 61%, Nasdaq 65%, R2000 71%. Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio ended the week at 17.38, a sixteen day low. The highest ratio in the database is 27.55 recorded on 01/30.
Bonds: TLT – 121.00 is the major poc. 06/27 TLT broke above that level and has been printing above that level since. On Friday, TLT printed its highest level since January.
Dollar Index: On a thirty minute basis the 6year poc is at 94.80. The chart is today printing back below that level. Has today printed a seventeen day low.
Gold: GLD – on 05/11 there was a rejected probe into 125.23, the 4mn poc, and chart fell sharply from there. The major poc is at 121.00 and this Support was broken 06/19.
Oil: USO – recently broke above the May highand has held.
GBPUSD: in mid April the major Value Area High at 1.4212 was probed for the second time this year and was rejected again. The Support at 1.3965 (6mn poc) was then broken. The major poc Support is at 1.3170 and GBPUSD has held that Support.
EURUSD: 06/14 chart broke back below 1.1755, the 1year poc. Today, EURUSD prints above that Resistance.
USDJPY: The 6mn poc for this chart migrated to 107 in April and the chart has been printing up from that level. 05/21 there was a rejected probe into 111.30, the 2year poc Resistance.
