emini 6th August 2019

emini 6th August 2019

The 15mn poc is at 2887.0 (now Resistance), see Friday’s pre-open comments, the poc migrated to this level back in June. Prior to that, the poc was at 2829 and in terms of time is still very close to 2887. ES has recovered back above 2829. If ES spends more time at 2829, the poc could migrate back to that level which would gtive us a good lower reference, for Support or otherwise.

Stocks>50dyma numbers: Nyse 28% (from 44%), Nasdaq 33% (from 49%), R2000 32% (from 50%). Numbers >50 are supportive.

Sentiment: My version of the Rydex Assets Ratio was lower at 19.02. Down from 24.14 on 07/29, a 10month high.

Bonds – TLT: on Thursday TLT spiked above 132.80, the maj Value Area High and closed on Monday at its highest level since September 2016.
Dollar Index: w/e 06/14 the three year poc migrated to 97.00 – now Support. Last week DXY printed a two year high but retraced from there. Major VAH at 99.50.
Gold: Cash Gold has today printed its highest level since early 2013. GLD Resistance 143.0, the 1/2R off 2011 high.
Oil: USO – closed on Monday very close to 11.41, the major poc Support.
GBPUSD: The 1/2R off this year’s low at 1.2910, was broken in mid-May and chart fell sharply from there. In July the chart broke below 1.2481, the 30mn poc, and on Thursday printed its lowest level since Jan 2017.
EURUSD: in early July the chart broke back below 1.1310, the Major poc which put EURUSD back in a weaker position and last week printed its lowest level since May 2017. Has rallied back from there.
USDJPY: the major poc is at 112.65. Chart is currently in a weak position below that level.