Monday, June 27, 2016

Monday, June, 27, 2016 #PreMarket Comments by Michael Blythe

Monday, June, 27, 2016 #PreMarket Comments by Michael BlytheSocialTwist Tell-a-Friend

Good morning. The inability of the ESU6 to hold above the halfway point (2059.25) of Friday’s Globex range followed by a close Friday below the cash open, places me in the sell rallies camp heading into this week. Bears need a break of the 1999 low from Friday while bulls needs a clear bounce from that area (RTH would be most meaningful).

Volume is about to hit 500K by 7:30 am CST and it looks like today’s action will not be small. Given this, I prefer to focus on some wider price objectives rather than micro intraday. With that said my early risk marker will be the 2005 (*) Globex VPOC. From the intraday prospective, I will lean to an early buy above or early sell below that price.

To the downside, the 1999 (**) price has barely held overnight and has to be seen as the clear defining mark for early price action IMHO. Below that should open the door for a 10 handle move to the 1990 (**) area which was the March low (ESM6), and then the 1971 (***) price which is the March low (ESU6) and roughly marks a 150 handle retracement from last week’s Globex highs.

Upside prices, 2017 (**) high from this mornings Euro session, followed by 2023 (***) globex high, and 2045 (*) and 2060 (***).

Michael Blythe
Futures 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, (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.