pre-open Monday 11th February 2019
See previous, highlighted. comments. The major poc is at 2718. Overnight this level has been probed twice. Pre-open printing 2715. If ES can print time back above 2718 it would be back in a very strong position.
Stocks>50dyma numbers: Nyse 75% (from 77%), Nasdaq 75% (unch), R2000 74% (unch). Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio ended the week at 14.11. Down from 14.44, on Thursday, a 43day high. On 9th Jan the ratio fell to 5.54, the lowest since July 2016. Down from 27.5 in early September.
Bonds – TLT: closed the week above 121.00, the major poc. Time above this level would be a strong position.
Dollar Index: as long as DXY prints above 94.80, the major poc, it is in a strong LT price location.
Gold: GLD – rallied strongly at the end of last month following a higher low in December which found Support at 121.00, the major poc. Strong LT location.
Oil: USO – closed the week below 11.41, the Major Poc. This is an important chart. Price printing time above 11.41 would be a positive for risk-on.
GBPUSD: in December the chart bounced from a second test of 1.2481 (30mn poc) and printed sharply higher. Has retraced from there.
EURUSD: Currently printing below the 1.131 Support, a previous major poc.
USDJPY: the major poc is at 112.60. Chart is currently printing below that level in a weak LT position.
