emini 14th October 2019 – pre-open from ChartProfit
Value Areas on Thursday and Friday were generated entirely above 2927, the 15mn poc. This is encouraging. Significant Buying marked above 2927 would be a further positive. Breadth numbers improved, see below.
Market Charts: Nyse turned Neutral (from Negative); Nasdaq and R2000 remained negative.
Stocks>50dyma numbers: Nyse 60% (fro 45%), Nasdaq 51% (from 41%), R2000 56% (from 44%). Numbers >50 are supportive.
Stocks>50dyma numbers: Nyse 60% (fro 45%), Nasdaq 51% (from 41%), R2000 56% (from 44%). Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio ended the week at 15.7. In early September the ratio fell to 14.0 which was the lowest since 10th June.
Bonds – TLT: The three month poc is at 142.50. Tlt closed below that Support on Thursday and fell sharply on Friday. Futures indicate a higher open for TLT today.
Dollar Index: on 10/01 TLT probed the Maj Value Area High at 99.50. Price will often be rejected from these Maj VAHs, and it has that look about it so far, but acceptance of this price (time) would be bullish.
Gold: The 8 month poc migrated to 141.7 earlier in the month. GLD closed below this level on Thursday and Friday.
Oil: on Friday USO closed very close to the 11.41 Resistance (Major poc). Futures indicate a lower open today for USO.
GBPUSD: rallied strongly at the end of the week to close the week above the 1.2481, the 30mn poc, now Support.
EURUSD: in early July the chart broke back below 1.1310, the Major poc which put EURUSD back in a weaker position. Early this month printed its lowest level since May 2017. Has rallied from there.
Dollar Index: on 10/01 TLT probed the Maj Value Area High at 99.50. Price will often be rejected from these Maj VAHs, and it has that look about it so far, but acceptance of this price (time) would be bullish.
Gold: The 8 month poc migrated to 141.7 earlier in the month. GLD closed below this level on Thursday and Friday.
Oil: on Friday USO closed very close to the 11.41 Resistance (Major poc). Futures indicate a lower open today for USO.
GBPUSD: rallied strongly at the end of the week to close the week above the 1.2481, the 30mn poc, now Support.
EURUSD: in early July the chart broke back below 1.1310, the Major poc which put EURUSD back in a weaker position. Early this month printed its lowest level since May 2017. Has rallied from there.
