emini future 30th January 2019 – pre-open from Chartprofit
See last Wednesday’s highlighted comments.
More time was spent at 2636 during Tuesday’s session. ES is higher pre-open, has printed above 2650. ES 2665 is the 6mn poc and this is First Level Resistance.
Stocks>50dyma numbers: Nyse 71% (from 69%), Nasdaq 63% (from 66%), R2000 63% (from 65%). Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio was almost unchanged at 13.34. On 9th Jan the ratio fell to 5.54, the lowest since July 2016. Down from 27.5 in early September.
Bonds – TLT: last week probed above the 121.00 poc but closed “at” that level on Tuesday.
Dollar Index: as long as DXY prints above 94.80, the major poc, it is in a strong LT price location.
Gold: GLD – early last week GLD found low at 121.00, the major poc Support and then closed sharply higher on Friday. Strong location. Closed higher on Tuesday at its highest level since May.
Oil: USO – on 12/07 chart found Resistance at 11.41, the Major Poc and fell sharply lower from there. Rallied back and has approached that Resistance last week and this. This is an important chart. Price above 11.41 would be a positive for risk-on.
GBPUSD: earlier in the month the chart bounced again from a second test of 1.2481 (30mn poc). On Friday printed its highest level since 7th Nov.
EURUSD: currently printing below 1.1450, the 1/2R. Support at 1.1310 (previously a major poc) was tested (and held) last week.
USDJPY: the major poc is at 112.60. Chart is currently printing below that level in a weak position.
