emini 15th October 2019 – pre-open from ChartProfit
The last three Value Areas have been generated entirely above 2927, the 15mn poc, which is a positive sign. ES is in a strong position if it holds that Support. Significant Buying marked above 2927 would be a further positive.
Stocks>50dyma numbers: Nyse 57% (from 60%), Nasdaq 49% (from 51%), R2000 54% (from 56%). Numbers >50 are supportive.
Sentiment: According to latest data my version of the Rydex Assets Ratio fell sharply on Monday to 6.5, the lowest reading since the start of the year. It looks largely due to a huge inflow into inverse Nasdaq funds. My feeling is because of size of the change the data should be confirmed and it is likely I won’t be able to check until new data is released tomorrow.
Bonds – TLT: The three month poc is at 142.50. Tlt closed below that level on Monday.
Dollar Index: on 10/01 DXY 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 Monday.
Oil: USO closed below the 11.41 Resistance (Major poc). Weak position.
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 DXY 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 Monday.
Oil: USO closed below the 11.41 Resistance (Major poc). Weak position.
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.
