posted 09.19 a.m. est
Monday’s session was printed entirely above the minor poc at 1949.00, see yesterday’s highlighted comments. Time printed below that level would be a minor sign of weakness. Pre-open that level has been tested. Rydex ratio pushing higher again, see below.
Momentum for all four Stock Index ETFs (although positive) is down.
ES First Level S/R = 1949.00 (36dy poc)
ES LT Support = 1872.00 (maj poc)
Stocks>50dyma numbers: Nyse 76% (unch), Nasdaq 68% (from 69%), R2000 69% (from 73%). Numbers >50 are considered supportive.
Sentiment: My version of the Rydex Assets Ratio was higher at 8.94 which is extremely high. On 06/16 the ratio reached 9.40 which is the highest in my database
Dollar Index and Bonds (TLT) have held LT strong price location which is a LT concern for equities, see below.
Financial Sector XLF: printing above 22.04, its Major 1/2R level.
EURJPY: chart is printing below 140.96, the 1/2R off Dec high in a weak price location.
Bonds TLT: Remains in a strong LT price location. In the ST, chart printed a 27day low last Thursday and Momentum is negative.
Dollar Index: Holds a strong price location above 79.76, the maj poc.
Gold GLD: On Thursday Gold posted its biggest one day jump in nine months and GLD now prints in a strong/stronger price location above 124.12, the 2yr poc. Consolidation above this level this level would be a sign of further strength.
Oil USO: printing above 37.96 in a strong price location and approaches the September high 39.54.
EURUSD: the 12mn poc moved lower to 1.3532 and currently chart is holding that Support.
