emini futures 25th April 2019 – pre-open from ChartProfit
Aggressive Buying was marked on Tuesday. These green-at-top highs are exceeded within two days (during day session), 80% of the time. This didn ‘t quite happen on Wednesday but the Value Area was generated at the top of Tuesday’s range. Significant Selling (red) has not been marked at all this year. First level Support is the 1mn poc at 2894.
Stocks>50dyma numbers: Nyse 64% (unch), Nasdaq 58% (from 64%), R2000 59% (from 57%). Numbers >50 are supportive.
Sentiment: My version of the Rydex Assets Ratio was higher 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. Today the index has reached its highest level since May 2017.
Gold: GLD – last week broke below the major Support at 121 and is now in a weak position.
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.
GBPUSD: is in a weak position below 1.3130, the maj poc. Has printed a new 2 month low today.
EURUSD: has today printed its loest level since June 2017.
USDJPY: the major poc is at 112.60. Chart has approached (but not exceeded) that Resistance.
