Emini Friday 15th February 2019
The last three value Areas have been printed entirely above 2718, the major poc.ES is in a strong position if it can hold this Support.
Stocks>50dyma numbers: Nyse 82% (from 83%), Nasdaq 83% (from 82%), R2000 83% (from 82%). Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio was lower at 12.34. Down from 14.92, a 44 day high, on Monday. 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. Found low at that Support this week.
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 above 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.
