emini futures 28th October 2019

Value Areas over the last two weeks have been generated entirely above 2927, the 15mn poc, which is a positive LT sign. Value Areas last week were generated above 2989, the 2mn poc which is a positive ST sign. That level is now First Level Support.

Market Charts: Nyse & R2000 remained positive; Nasdaq remained neutral.
Stocks>50dyma numbers: Nyse 67%, Nasdaq 60%, R2000 67%. Numbers >50 are supportive.

Sentiment: My version of the Rydex Assets Ratio ended the week at 17.67. Last week the ratio fell to 6.50 last week, the lowest since January.

Bonds – TLT: The three month poc is at 142.50. TLT has been printing below that level for two weeks.
Dollar Index: on 10/01 DXY probed the Maj Value Area High at 99.50. As I wrote at the time “price will often be rejected from these Maj VAHs” – and it has that look about it so far. There is Support at 97.00, the 3yr poc.
Gold: The 8 month poc migrated to 141.7 earlier in the month. GLD is printing below that level today.
Oil: USO is printing back above the 11.41 Resistance (Major poc) in a stronger position but there is further Resistance at 11.95 which is 1/2R off 2016 low.
GBPUSD: has rallied strongly recently. Has probed 1.2914, the 1/2R Resistance off 2016 low but did not print significant time above that level.
EURUSD: Early this month printed its lowest level since May 2017. Has rallied strongly from there.