Tuesday, June 16, 2015
#PreMarket Thoughts and #ES_F Levels for Tuesday, June 16, 2015
Yesterday
I mentioned there is no need to map out lower ESU5 levels until a breach below 2062 which for now is the overnight (OVN) low and now ESU5 is also testing value at 2071s after bouncing from 2062.
With such a bounce from 2062 and
with this week also being FOMC week I am still doubtful a 2062 breach will come with ease unless value holds both in the pre-market session and during RTH as well.
If
value holds for the bears I do see
potential to reach the 2051/50 area
ahead of FOMC if first getting through today’s first lower target at 2056s/55s but due to the everyday buy
the dip (BTD) script odds favor at least one attempt to get back in value/+2071s during the RTH session
today if not before the cash open. If back in value during RTH the 80%
Rule will apply to the upside with potential to reach the other side of value at 2078s/79s after and if first getting through the 2076s area.
Once/if
the bulls succeed to get above value/+2078s
the final for the bears to defend is 2082s/83s
otherwise the odds will increase for more upside ahead of FOMC and/or post
another Greece headline/rumor.
Ethan Premock
Futures & Options Strategist
Hamzei Analytics, LLC
Monday, June 15, 2015
Subscribe to:
Posts (Atom)
Disclaimer and Terms of Service
© Copyright 1998-2023, Hamzei Analytics, LLC. Hamzei Financial Network is published by Hamzei Analytics, LLC, Naples, FL 34112, Admin@HamzeiAnalytics.com (310) 306-1200. The information herein was obtained from sources which Hamzei Analytics, 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.
