Friday, August 12, 2016
Thursday, August 11, 2016
Thursday, August 11, 2016 #PreMarket #ES_F Comments by Michael Blythe
Good Morning. Same story, Globex strength, especially out of Europe leaves the market open to being faded in cash hours. Bears have put together modest lower highs and needs the to keep the 2179 price protected and push below support into the lower target area. Bulls need to break the 2179 price early, establish a floor there, and push to the upside target.
2187 (*) Target Above 2184
2184 (*) Top of Ceiling Area
2181 (*) Beginning of Ceiling Area
2179 (*) Early Pivot Today
2174 (*) Support Zone Begins
2170 (*) Bottom of Support Zone
2161 (*) Target on a Break of 2170
All the best;
Michael Blythe
Futures Strategist
Hamzei Analytics, LLC
Wednesday, August 10, 2016
Tuesday, August 9, 2016
Tuesday, August 9, 2016 #PreMarket #ES_F Comments by Michael Blythe
Yesterday may have been the slowest day of the year when considering volume and cash hours range and given the light calendar again today, along with weak Globex volume and narrow overnight trade, today may challenge yesterday’s uneventfulness.
At this point, bulls are doing what is necessary, converting the prior ceiling area of 2170-2172 to a floor.
Downside levels. Support area begins with 2176 (*) through 2173 (*), I see an alternative support zone at 2172 – 2168 below this targets 2162 (*)
Higher levels: Above 2178 targets 2180 – 2181 (*) where initial resistance is, then 2183 (*). If above 2183 then target is 2185 (*).
Michael Blythe
Futures Strategist
Hamzei Analytics, LLC
