#NFLX Bias & Levels Update for Thursday June 23, 2016 by @mocktrade

Tweet #NFLX Bias & Levels Update for Thursday June 23, 2016 by @mocktrade

NFLX target at the 78.6% Fib (89.80) achieved yesterday along with also reaching the bottom of the wedge today at 88s, which is likely to now hold ahead of the Brexit vote. If the wedge does not hold or contain and if NFLX sees more selling today 87.95 will become a potential lower target before 86.50-86.15 zone which includes today’s daily support (DS3).

For me NFLX has a ways to go before I can become extremely bullish; the Brexit overall market reaction will definitely have to work in favor for NFLX buyers. If NFLX can at least first get back above the 92s/93s area then above last week’s value area/+95.05 following the Brexit vote I will expect NFLX to then reach the 97s/98s area, otherwise failing to get above 95.05 will equal odds more in favor for NFLX reaching the 80s/79s target in the coming weeks.

Ethan Premock
Futures & Options Strategist
Hamzei Analytics, LLC 

#AMZN Bias & Levels Update for Thursday June 23, 2016 by @mocktrade

Tweet #AMZN Bias & Levels Update for Thursday June 23, 2016 by @mocktrade

I do not currently have a position nor a Strangle in AMZN ahead of the Brexit vote but I am seeing AMZN as a definite stock which should be hedged just in case the overall US stock market’s reaction is bearish for equities following the Brexit vote regardless of stay or not.

What I am taking note to is while AMZN has been the strongest of the FANG stocks (especially compared to NFLX & GOOGL) AMZN has now also failed to breakout to new highs for more than 6 straight weeks along with volume decreasing dramatically over the past 6 weeks as well except during the one day AMZN sold off a bit this past Friday.

Decreasing volume at/near ATHs is usually not a good sign for further upside with legs (or at least is a sign for limited upside) no matter how solid a stocks fundamentals are, which is also usually a sign odds are more in favor for a meaningful pull-back before resuming higher.

If not for the potential of a positive market outcome following the Brexit vote my mindset would definitely be thinking AMZN should be heading to 685s-682s zone before making another attempt at new ATHs; however if equities rally post the Brexit vote a AMZN bearish scenario will likely be negated and new ATHs will also be very likely, but with AMZN struggling to make new highs for so long (6+ weeks) on decreasing volume I would be hedging my AMZN exposure via short-term Puts if I was currently in a Long position.

If an AMZN bearish scenario does follow the Brexit vote and if also breaching below 682s the hedge via Puts would protect the potential for/if AMZN started to head to the next lower target at 665s-660s zone. If below 660s the line in sand (LIS) for buyers would be 649s-647s zone otherwise odds will favor a move to 630s/29s and possibly lower. 

Ethan Premock Futures & Options Strategist at Hamzei Analytics, LLC 

Thursday, June, 23, 2016 #PreMarket Comments by Michael Blythe

Tweet Thursday, June, 23, 2016 #PreMarket Comments by Michael Blythe

Good Morning. Further polls have suggesting more breathing room for the Bremain camp and European equities responded with a solid rally. The FTSE now has its best five day return since the February lows and the S&P Sep futures travelled back up to 2100. I learned on September 29, 2008 to never assume an outcome of a political event and with all the risk on flavor, my concern is after the buy the rumor becomes fact, there will be a sell the news response.

I am still trading small this week without much of a market feel, and the next two days are not generous to conviction minded traders. The results of the Brexit vote will not be known until after hours, any info beyond that fact is unknown to me.

Levels I am watching to the downside are the 2093 (**) low from late this morning, below that I believe the door is open to trade back to the 2089 (**) area which offers next support followed by 2085 (**) then 2078 (***). Upside, is 2098 (**) then the 2102 globex high (*) and I don’t have anything of substance until 2120 (**).

#FOREX Pairs with HA Prop Indicators for Wednesday June 22, 2016

Tweet #FOREX Pairs with HA Prop Indicators for Wednesday June 22, 2016

Final #AAPL #PutCallRatios for Wednesday, June 22, 2016

Tweet Final #AAPL #PutCallRatios for Wednesday, June 22, 2016

Final #VIX #PutCallRatios Wednesday, June 22, 2016

Tweet Final #VIX #PutCallRatios Wednesday, June 22, 2016

#NQ_F Volume Profile Chart for Wednesday, June 22, 2016

Tweet #NQ_F Volume Profile Chart for Wednesday, June 22, 2016

#ES_F Volume Profile Chart for Wednesday, June 22, 2016

Tweet #ES_F Volume Profile Chart for Wednesday, June 22, 2016

Wednesday, June 22, 2016 S&P 500 Futures Closing Comments by Michael Blythe @FairValueTrader

Tweet Wednesday, June 22, 2016 S&P 500 Futures Closing Comments by Michael Blythe @FairValueTrader

#NQ_F Daily + Weekly SPR plus IB Levels Chart for Wednesday, June 22, 2016

Tweet #NQ_F Daily + Weekly SPR plus IB Levels Chart for Wednesday, June 22, 2016