Although value at 2112s contained ESU5 upside both overnight (OVN) and also in the per-market session
it seems buyers I not willing to give up defending the 2100 area until a Greece deal is certain or not; however the bulls
are not succeeding to get and hold above today’s initial balance (IB) at 2105s or at least not yet. There is now
good chance the RTH session could be range bound between 2108s & 2100s while in Greece wait mode again.
Once/if above 2108s
I will expect a move to 2115s-2118s
zone or once/if below 2100 the next
lower target is at 2096s/95s. If a
breach below 2095 the final for the bulls
to defend is 2091s-2088s zone in
order to avoid the possibility of change.
Ethan Premock
Futures & Options Strategist
Hamzei Analytics, LLC