Showing posts with label $ES_F. Show all posts
Showing posts with label $ES_F. Show all posts
Friday, August 12, 2016
Thursday, August 11, 2016
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
Monday, August 8, 2016
Friday, August 5, 2016
Thursday, August 4, 2016
Wednesday, August 3, 2016
Tuesday, August 2, 2016
Tuesday, August 2, 2016 Morning Comments by Michael Blythe
Good morning. Overnight, price action looks somewhat similar to Monday with a bid early in the Asian session followed by selling during the Euro frame. The ESU back in last weeks range as 2160-2155 looks again as support with 2170 as resistance.
The calendar today is slow, and the attention grabber this week is NFP. Best case for bulls is a decisive successful retest of last week’s low area followed by a strong bid pushing the Sep mini to new contract high prints in the cash session. Bears need selling to follow through on today’s open, and to make sure the mid morning bounce is weak and push lower into the close, converting the former 2155 area support into resistance.
I doubt either side will get what they are looking for, futhermore I doubt that even a break of 2155 or 2175 will be much to be excited about. I go into today’s open unbiased and opportunist driven.
Downside prices: 2157 (*) Globex low area ought to represent a fair pivot early, followed by the 2153 (**) area that bulls must hold. If 2153 is converted to intraday resistance then target becomes 2146 (***) where I do expect bulls to hold first touch.
Higher prices: 2167 (**) will be a real test for any rally on the open and above that 2171 (**) will given more resistance. I’m not expecting price to break that area but if so then attention will turn to the 2178 area.
All the best;
Michael Blythe
Futures Strategist
Hamzei Analytics, LLC
Monday, August 1, 2016
Friday, July 29, 2016
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