emini 12th July 2019 – pre-open from ChartProfit
Following the Aggressive Buying (green-at-top) on 06/28, ES has printed higher. First Level Support is at 2957.00 the 1mn poc. Second Level Support is at 2927.00, the 2month poc.
Stocks>50dyma numbers: Nyse 66% (from 67%), Nasdaq 57% (from 58%), R2000 57% (from 59%). Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio was lower at 22.13. The 9month high for the ratio is close at 23.93, recorded early May. The ratio fell to 11.58 on 06/06, a three month low, having reached 23.93 on the 7th May, a seven month high.
Bonds – TLT: has been probing 132.80, the maj VAH, over last two weeks and now seems to have rejected that level with a sharp down day on Thursday.
Dollar Index: w/e 06/14 the three year poc migrated to 97.00. A higher low above that level would bve bullish.
Gold: 06/25 GLD printed its highest level since 2013.
Oil: USO – 06/20 the chart recovered back above 11.41, the major poc, a stronger position. Wednesday and Thursday closed above 12.20 (1/2R off this year’s high) in a stronger position again.
GBPUSD: The 1/2R off this year’s low at 1.2910, was broken in mid-May and chart fell sharply from there. This week has tested 1.2481, the 30mn poc, and has bounced from that Support as it did in January. Price printing time below that poc would be a bearish development.
EURUSD: last week the chart broke back below 1.1310, the Major poc which put EURUSD back in a weaker position.
USDJPY: the major poc is at 112.65. Chart is currently in a weak position below that level.
