emini futures 16th October 2019 – pre-open from ChartProfit
The last four 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 62% (from 57%), Nasdaq 56% (from 49%), R2000 59% (from 54%). Numbers >50 are supportive.
Sentiment: my version of the Rydex Assets Ratio fell sharply on Monday to 6.5 (confirmed) – the lowest reading since the start of the year. Was slightly higher on Tuesday.
Bonds – TLT: The three month poc is at 142.50. Tlt closed below that level on Tuesday.
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 Tuesday.
Oil: USO closed below the 11.41 Resistance (Major poc). Weak position.
GBPUSD: rallied strongly at the end of last week and again this week. Is now printing well above 1.2481, the 30mn poc (now Support) in a strong position.
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 Tuesday.
Oil: USO closed below the 11.41 Resistance (Major poc). Weak position.
GBPUSD: rallied strongly at the end of last week and again this week. Is now printing well above 1.2481, the 30mn poc (now Support) in a strong position.
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.
