emini 5th August 2019 – pre-open from ChartProfit
Pre-open today ES is testing the 15mn Support at 2887.0, see Friday’s pre-open comments, highlighted.
Market Charts: All major Market Charts turned negative.
Stocks>50dyma numbers: Nyse 44%, Nasdaq 49%, R2000 50%. Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio ended the week at 22.30. Down from 24.14 on Monday, a 10month high.
Bonds – TLT: on Thursday TLT spiked above 132.80, the maj Value Area High and closed on Friday at its highest level since October 2016.
Dollar Index: w/e 06/14 the three year poc migrated to 97.00. On Thursday chart printed a two year high but has retraced from there. Major VAH at 99.50.
Gold: Cash Gold has today printed its highest level since early 2013. GLD Resistance 143.0, the 1/2R off 2011 high.
Oil: USO – closed the week just above 11.41, the major poc Support.
GBPUSD: The 1/2R off this year’s low at 1.2910, was broken in mid-May and chart fell sharply from there. In July the chart broke below 1.2481, the 30mn poc, and on Thursday printed its lowest level since Jan 2017.
EURUSD: in early July the chart broke back below 1.1310, the Major poc which put EURUSD back in a weaker position and last week printed its lowest level since May 2017. Has rallied back sharply today.
USDJPY: the major poc is at 112.65. Chart is currently in a weak position below that level.
