Tuesday, August 16, 2016

Tuesday, August 16, 2016 #ES_F #PreMarket Comments by Michael Blythe

Tuesday, August 16, 2016 #ES_F #PreMarket Comments by Michael BlytheSocialTwist Tell-a-Friend



Good morning. Not much to comment on, looks like markets will wait until FOMC minutes tomorrow however the ESU6 is starting to drip this morning after the 7:30 am CST numbers.

2191 (*) Top of Resistance Zone

2188 (*) Second Upside Target / Resistance Zone Begins

2183 (*) First Upside Target

2181 (*) Early Pivot

2177 (*) Downside Target A / Top of Support Zone

2174 (*) Downside Target B / Bottom of Resistance Zone

2168 (**) Target C

*Feels* somewhat bearish but can’t discount dip buyers until the decide not to show up. Bears need a lower high from yesterday and to close at a lower low which shouldn’t be too difficult. Bulls need to buy an early dip this morning  and hold the support zone.


All the best;
Michael Blythe
Futures Strategist
Hamzei Analytics, LLC

Posted by Hamzei Analytics, LLC at 8:48 AM

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