#PreMarket Thoughts and #ES_F Levels for Monday, June 22, 2015
Once again whatever spooked the market one day is magically fixed by the next trading session; unfortunately the hope that the Friday close gave for potential change this week was very short-lived which also means RTH this week will most likely and again be nothing more than the same day/every day scripted market of a morning move (up or down) followed by several hours of low energy chop & grind before a late day or last hour scripted bullish move.
For now ESU5 is trading above value/+2111s and as long as holding
above value during RTH new ATHs should come with ease to 2128s-2132s zone, but if below value after the cash open the 80% Rule will apply to the downside
with potential to reach 2103s-2100s
zone. If below 2100 the threshold
today to ensure the usual every day script is 2095; as long as holding above 2095
the RTH BTDers will remain in control today and possibly also this entire
week.
Ethan Premock
Futures & Options Strategist
Hamzei Analytics, LLC