emini future 26th April 2019 – pre-open from Chartprofit
Aggressive Buying was marked on Tuesday. Price hasn’t exceeded the high of that day but Value Areas are being generated above 2925 showing acceptance at this higher range. First sign of ST weakness would be a day session close below 2013, Tuesday’s Buying Day low. Significant Selling (red) has not been marked at all this year. First level Support is the 1mn poc at 2894.
Stocks>50dyma numbers: Nyse 58% (from 64%), Nasdaq 54% (from 58%), R2000 52% (from 59%). Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio was slightly lower at 22.87. Down from Wednesday’s ratio at 23.03, a seven month high.
Bonds – TLT: 03/28 TLT printed its highest level since December ’17. Has retraced from there but as long as TLT holds above the 121 major Support it is in a strong position.
Dollar Index: I have been writing for weeks that the chart is in a strong position above 96.38. On Thursday the index reached its highest level since May 2017.
Gold: GLD – last week broke below the major Support at 121 and is in a weak position if it prints below that level.
Oil: USO – tested 11.41, the Major Poc Support on 03/08. Formed a higher low at that Support and has rallied strongly. On Tuesday closed at its highest level since October. Has retraced a little from there.
GBPUSD: is in a weak position below 1.3130, the maj poc. Printed a 2 month low on Thursday.
EURUSD: on Thursday printed its lowest level since June 2017.
USDJPY: the major poc is at 112.60. Chart has approached (but not exceeded) that Resistance.
