Friday, April 7, 2017
@AnneMarieTrades Morning Comments for #ES_F, #NQ_F & #CL_F for Apr 7, 2017
CONSIDERATIONS
FOR Apr 7, 2017 as emailed to Members at 0813 ET
ES_F– With NFP on deck, just about anything can happen short
term – the question is always after the fact – is there significant weight for
continuation on either level? My suspicion is no based on general
intraday momentum readings at this time. With a good number, we could
also dip as FOMC warnings of an overheated market roiled the space a few days
ago. If you are not experienced (that means novice or bad
experience- evidenced by a chart of your daily balance over time), it is best
to wait for the dust to settle before engaging. The support level near
2349 remains extremely important
·
Buying pressure will likely strengthen above a positive retest
of 2359.75 (but more resistance is ahead nearby)
·
Selling pressure will likely strengthen with a failed retest of
2339
·
Resistance sits near 2359.75 to 2363.5, with 2369.5 and
2376.25 above that
·
Support holds between 2339 and 2334.5, with 2323.5 and
2317.5 below that
***NASDAQ
Futures***
Momentum drifted lower yesterday as the NQ_F presented the
lower high as expected. Overnight, we broke the low but quickly recovered
and is also moving around congestion levels near 5420 . Candles
are likely to hold long wicks today as well, as spikes in either direction
may not hold. We have lower momentum, so rejections of higher levels
could provide excellent shorts for the intraday trader. New support
levels to watch are in the 5370 region. Use caution trading at the edges
today.
·
Buying pressure will likely strengthen with a positive retest of
5446 (use caution as sellers sit up here-wait for a retest)
·
Selling pressure will likely strengthen with a failed retest of
5406
·
Resistance sits near 5456 to 5462.75, with 5477.25 and 5489.5
above that
·
Support holds between 5388.5 and 5380.5, with 5377.5 and 5347.5
below that
***Oil
–WTI Crude***
A big pop in oil took us to the edge of our resistance levels
noted, and indeed, breached before rejecting. If the chart holds and/or
recovers 52.17, we will press further into 53.19. Support holds
below at 51.2, but we could see some big action depending on the weight of
markets. Buyers are battling at a new higher low near 52.17, and a
fade there should give us the retest of 51.7. Momentum is high. Rig
count is out this afternoon.
·
Buying pressure will likely strengthen with a positive retest
of 52.7
·
Selling pressure will strengthen with a failed retest
of 51.2
·
Resistance sits near 52.7 to 53.2, with 53.76 and 54.38 above that.
·
Support holds between 51.2 and 50.77, with 50.47 and
50.06 below that.
We are extremely honored & proud to announce that Anne-Marie Baiynd has joined Team Hamzei Analytics
as Chief OTF Strategist.
Thursday, April 6, 2017
Wednesday, April 5, 2017
Tuesday, April 4, 2017
Monday, April 3, 2017
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