emini futures 5th October 2018 – from Chartprofit
The 1mn poc migrated to 2927.00, see Monday’s comments. Price held that level until yesterday, see chart. 2927.00 is now Resistance.
You can see that ES recovered back above 2899 by the end of Thursday’s session and held overnight. Pre-open ES tested that Support very briefly. First sign of weakness in the longer timeframe would be time (a Value Area) printed below that level.
Pulse Chart has deteriorated.
First Level Resistance = 2927
First Level Support = 2899
Stocks>50dyma numbers: Nyse 37% (from 45%), Nasdaq 33% (from 39%), R2000 30% (from 36%). Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio was slightly higher at 21.33. The peak reading is 27.55 recorded 09/07 which equalled the highest ratio in the database.
other charts – see today’s video
