emini 3rd July 2018 – pre-open from Chartprofit
ES has been oscillating around the 2718 poc. Monday’s Value Area was generated below that level but pre-open ES has printed above 2740. I’m looking for Aggressive Buying (green) marked above 2718 or Aggressive Selling (red) marked below to indicate the next directional move. Note that Aggressive Selling has not been marked for 47 days. Also watching SPY 269.77, the 1/2R from this year’s high.
LT Support = 2718.00 (12mn poc)
Stocks>50dyma numbers: Nyse 58% (from 51%,) Nasdaq 58% (from 52%), R2000 62% (from 56%). Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio was higher at 22.29. The highest ratio in the database is 27.55 recorded on 01/30.
Bonds: TLT – 121.00 is the major poc. TLT was sharply higher last Wednesday to print above that level and has been printing above that level since.
Dollar Index: On a thirty minute basis the 6year poc is at 94.80. The chart is oscillating around that level and is today printing back below it.
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 – Last week the May high was exceeded.
GBPUSD: in mid April the major Value Area High at 1.4212 was probed for the second time this year and was rejected again. The Support at 1.3965 (6mn poc) was then broken. The major poc Support at 1.3170 was broken last week today GBPUSD prints very close to that level.
EURUSD: 06/14 chart broke back below 1.1755, the 1year poc. Weaker price location.
USDJPY: The 6mn poc for this chart migrated to 107 in April and the chart has been printing up from that level. 05/21 there was a rejected probe into 111.30, the 2year poc Resistance.
