emini SP500 1st November 2019 – pre-open

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.

Dayframe: 10day poc has migrated to 3038.00. Price relative to this level will give an indication of ST strength/weakness today.  Pre-open ES is printing above that level.

Stocks>50dyma numbers: Nyse 63% (from 68%), Nasdaq 59% (from 65%), R2000 63% (from 69%). Numbers >50 are supportive.

Sentiment: My version of the Rydex Assets Ratio was almost unchanged at 19.42. On 14th Oct the ratio fell to 6.50, the lowest since January.

Bonds – TLT: The three month poc is at 142.50 = Resistance. Price above that level would put TLT back in a stronger location.
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 above that level on Thursday. Price above 143 (major 1/2R) would put GLD in a strong position.
Oil: USO closed below the 11.41 Resistance (Major poc) on Thursday = 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.