S&P 500 emini pre-open Tuesday 20th January

S&P 500 emini pre-open Tuesday 20th January

posted 09.08 a.m. est

On Friday Significant Buying was marked for the first time in thirteen days; both Reactive and Aggressive Buying. Pre-open today ES is printing above 2017.00, the minor (15day) poc. Time printed above 2035.00 (4mn poc) would be a positive and so would Breadth numbers registering above 50, see below. PriceOsc (Momentum) for all four major Stock Index ETFs is negative and falling – Bulls would want to see this indicator improving as well.

First Level Resistance = 2035.00 (4mn poc)
Major Support = 1962.00 (6mn poc) and SPY 197.20 (8mn poc)

Breadth: CP marketing System is negative for all major U.S. Market Charts and positive for UK.
Stocks>50dyma numbers: Nyse 43%, Nasdaq 41%, R2000 45%, UK 60%. Numbers >50 are supportive.

Sentiment: 01/16: My version of the Rydex Assets Ratio ended the week at 10.81. This indicator registered little fear during the recent decline and historically it is still very high. In early December the ratio reached 13.73, the highest in the database.

Supporting Charts:
Bonds TLT: recently exceeded the 2012 high and last week printed a new high.
Dollar Index: on Friday printed its highest level since 2003.
Gold GLD: has rallied strongly this month and pre-open today has approached the 124.12 Resistance, the major poc on the daioly chart.
Oil USO: on 12/12 broke below the extreme low of Feb 2009 and printed a new low last week.
EURUSD: probed the 4mn Time Resistance at 1.2475 last month and is lower from there, printing below 1.2300, the maj poc, and on Friday printed its lowest level since 2003.