posted 9.27 a.m. est
Pre-open Tuesday 2nd November
On Monday I marked Responsive Selling (red-at-top) again above 1190. There was a probe below the 1178 poc in the p.m. but a late rally closed it back above that important level.
Dayframe: Pre-open today ES has once again probed above 1190 – acceptance (time) above that level would indicate higher in the ST.
First Level support = 1178 (30dy poc)
ST Sentiment: My version of the Rydex Assets Ratio was higher to 2.28 which is the highest since early May.
Supporting Charts
– USDJPY: new low for this chart on Monday.
+ EURUSD: Major 1/2R at 1.3965 (off the 2008 high) in play. Chart currently printing above that level.
? UDX: there’s been little bounce from the ten month low set on the 15th October but Price Osc up for thirteen consecutive days.
+ TLT: chart still in weak location with confirmed lower high and lower low.
these charts are currently mixed but imo have a slight positive bias for equities. EURUSD will provide a big clue re IT direction for Equities, specifically if it finds resistance or support at the Major 1/2.
