Tuesday, August 4, 2015

Index #ES_F #SPY #NQ_F #QQQ #IWM Bias Update and Levels for Tuesday, August 4, 2015

Index #ES_F #SPY #NQ_F #QQQ #IWM Bias Update and Levels for Tuesday, August 4, 2015SocialTwist Tell-a-Friend


So far the index overnight (OVN) session is still keeping the macro lower high formation intact that was mentioned yesterday which did also play a big role in my Short bias in ESU5 yesterday as well, along with confirmation from bearish divergences in AAPL, Oil/CLU5, and financials. However and once again the bulls found a way to defend an ESU5 bearish close at 2081s which forced Shorts to cover into the closing bell.



If below value/-2084 today I will expect a definite retest of 2081s and if holding again today the bulls could or may avoid further downside for the rest of the week (??) but as long as below 2097s/98s and definitely if holding below 2094s/95s the lower high formation will likely continue lower to today’s first lower target at 2078s/77s then 2071s/70s.

For IWM the first threshold which will need to hold is 123.30 then 124.80 in order to stay in the lower high formation today. For NQU5 the lower high thresholds are at 4614s/15s and then 4645s/46s







Ethan Premock
Futures & Options Strategist
Hamzei Analytics, LLC

Disclaimer and Terms of Service

© Copyright 1998-2018, Hamzei Analytics, LLC. Hamzei Financial Network is published by Hamzei Analytics, LLC, 6840 Huntington Lakes Circle, Suite 201, Naples, FL 34119, Admin@HamzeiAnalytics.com (310) 306-1200. The information herein was obtained from sources which Hamzei Anlaytics, LLC believes are reliable, but we can not and do not guarantee its accuracy. None of the information, advertisements, website links, or any opinions expressed constitutes a solicitation of the purchase or sale of any securities or commodities. Please note that Hamzei Analytics, LLC or its principals may already have invested or may from time to time invest in securities or commodities that are recommended or otherwise covered on this website. Neither Hamzei Analytics, LLC nor its principals intend to disclose the extent of any current holdings or future transactions with respect to any particular security or commodity. You should consider this possibility before investing in any security or commodity based upon statements and information contained in any report, post, comment or recommendation you receive from us. The content on this site is provided as general information only and should not be taken as investment or trading advice. Any action that you take as a result of information, analysis, or conclusion on this site is ultimately your responsibility. Always consult your financial adviser(s) before making any investment or trading decisions.