emini 23rd October 2019 – pre-open

The last nine Value Areas have been generated entirely above 2927, the 15mn poc, which is a positive LT sign. Value Areas on Monday and Tuesday were generated above 2989, the 2mn poc which is a positive ST sign – that level is now First Level Support.

Stocks>50dyma numbers: Nyse 67% (from 68%), Nasdaq 60% (from 61%), R2000 68% (from 69%). 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 6.74 on Tuesday.

Bonds – TLT: The three month poc is at 142.50. TLT has been printing below that level for eight 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 Tuesday.
Oil: USO probed the 11.41 Resistance (Major poc) on Tuesay. Time above this level would put USO back in a stronger 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.