emini SP500 31st October 2019 – pre-open from CharetProfit
Value Areas over the last two weeks have been generated entirely above 2927, the 15mn poc, which is a positive LT sign. More recently Value Areas have been generated above 2989, the 2mn poc which is a positive ST sign. That level is now First Level Support.
Stocks>50dyma numbers: Nyse 68% (unch), Nasdaq 65% (from 64%), R2000 69% (from 70%). Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio was slightly higher at 19.58. On 14th Oct the ratio fell to 6.50, the lowest since January.
Bonds – TLT: The three month poc is at 142.50. TLT has been printing below that level for three weeks.
Dollar Index: on 10/01 DXY probed the Maj Value Area High at 99.50. As I wrote at the time “price will often be rejected from these Maj VAHs” – and it has that look about it so far. There is Support at 97.00, the 3yr poc.
Gold: The 8 month poc migrated to 141.7 earlier in the month. GLD closed below that level on Wednesday.
Oil: USO tested the 11.41 Resistance (Major poc) this week. Price below that level would put the chart in a weaker position.
GBPUSD: has rallied strongly recently. Has probed 1.2914, the 1/2R Resistance off 2016 low but has not printed significant time above that level. Is printing above 1.2914 today.
EURUSD: Early this month printed its lowest level since May 2017. Has rallied strongly from there.
Dollar Index: on 10/01 DXY probed the Maj Value Area High at 99.50. As I wrote at the time “price will often be rejected from these Maj VAHs” – and it has that look about it so far. There is Support at 97.00, the 3yr poc.
Gold: The 8 month poc migrated to 141.7 earlier in the month. GLD closed below that level on Wednesday.
Oil: USO tested the 11.41 Resistance (Major poc) this week. Price below that level would put the chart in a weaker position.
GBPUSD: has rallied strongly recently. Has probed 1.2914, the 1/2R Resistance off 2016 low but has not printed significant time above that level. Is printing above 1.2914 today.
EURUSD: Early this month printed its lowest level since May 2017. Has rallied strongly from there.
