emini 30th August 2018 – pre-open from Chartprofit
SPY broke above the January high late last week and is holding above that level, see yesterday’s comments. I have not marked significant Selling for 22 days.
Stocks>50dyma numbers: Nyse 66% (from 63%), Nasdaq 58% (from 56%), R2000 61% (from 59%).
Sentiment: My version of the Rydex Assets Ratio was almost unchanged at 23.57. The 6month high for the ratio is 24.29 and the highest ratio in the database is 27.55 recorded on 01/30.
Bonds: TLT – 121.00 is the major poc. Last week TLT printed above that level in a strong price location but closed at 121 on Wenesday.
Dollar Index: The 6year poc is at 94.80. Today the chart is printing just below that Support.
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 has rallied back in the last two weeks but remains in a weak LT price location below 1.3170.
EURUSD: On 08/15 the chart printed its lowest level since July 2017. Strong rally back from there but chart remains below 1.1755, the 1year poc in a weak LT position.
USDJPY: the major poc is now at 111.30 and chart is printing above this Resistance today.
