emini 22nd October 2019 – pre-open

The last eight Value Areas have been generated entirely above 2927, the 15mn poc, which is a positive LT sign. Monday’s Value Area was generated above 2989, the 2mn poc (see yesterday’s comments) which is a positive ST sign – that level is now First Level Support. Aggressive Buying was marked on Monday, see comments on 11th October on chart.

Stocks>50dyma numbers: Nyse 68% (from 64%), Nasdaq 61% (from 57%), R2000 69% (from 65%). Numbers >50 are supportive.

Sentiment: my version of the Rydex Assets Ratio fell sharply last week (Monday) to 6.5 – the lowest reading since the start of the year. Ratio was 6.98 on Monday.

Bonds – TLT: The three month poc is at 142.50. TLT has been printing below that level for seven days.
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 below this level on Monday.
Oil: USO closed below the 11.41 Resistance (Major poc) on Monday. Weak position.
GBPUSD: has rallied strongly recently. Has probed 1.2914, the 1/2R Resistance off 2016 low but has yet to print significant time above that level.
EURUSD: Early this month printed its lowest level since May 2017. Has rallied strongly from there.