emini 16th August 2018 – pre-open from Chartprofit
Dayframe: minor Dayframe Support (30day poc) is at 2815. On Wednesday ES tested this Support but closed the day session back above it. Pre-open ES has printed above 2835. First sign of dayframe weakness would be price printing time below 2815, e.g. a Value Area entirely below that level.
2772 remains First Level Support in the longer timeframe.
First Level Support = 2772 (minor poc)
Second Level Support = 2718.00 (12mn poc)
Stocks>50dyma numbers: Nyse 47% (from 51%), Nasdaq 45% (from 50%), R2000 47% (from 52%).
Sentiment: My version of the Rydex Assets Ratio was lower at 22.6. The highest ratio in the database is 27.55 recorded on 01/30.
Bonds: TLT – 121.00 is the major poc. Wednesday high probed this Resistance. Price above 121 would put TLT in a strong position. In late July the chart tested (but held) the 6mn Support at 118.50.
Dollar Index: The 6year poc is at 94.80. The chart is printing above that level in a strong price location and on Wednesday printed its highest level since June last year.
Gold: GLD – on 05/11 there was a rejected probe into 125.23, the 4mn poc, and chart fell sharply from there. The major poc is at 121.00 and this Support was broken 06/19.
Oil: USO – As long as chart holds above 12.79, the 12mn Support it is in a LT strong price location.
GBPUSD: The major poc is at 1.3170 and there was a rejected probe into that level in late July – chart is lower from there and on Wednesday printed its lowest level since June 2017.
EURUSD: 06/14 chart broke back below 1.1755, the 1year poc. Subsequently there were rejected probes into that Resistance and chart remains below that level in a weak position. On Wednesday chart printed its lowest level since July 2017.
USDJPY: the major poc is now at 112.70 and currently USDJPY is printing below that level.
