Tuesday 12th February 2019
The major poc is at 2718. If ES can print time back above 2718 it would be back in a very strong position. Currently, as of post-open on Tuesday, ES has recovered back above this level.
Stocks>50dyma numbers: Nyse 76% (from 75%), Nasdaq 78% (from 75%), R2000 77% (from 74%). Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio was highr at 14.92, a 44 day high. On 9th Jan the ratio fell to 5.54, the lowest since July 2016. Down from 27.5 in early September.
Bonds – TLT: is currently printing above 121.00, the major poc, and important Support.
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 – currently printing just 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.
