Friday, December 16, 2016
Friday, December 16, 2016 Morning S&P Comments from Michael Blythe
Good morning. Bulls did what they needed, rebuilt a floor at 2250 and is using that to push higher. It’s an expiration Friday with bulls in charge, not out of the cards for a grind up to new highs or at least pushing close to 2270. Going to return to quiet and thin.
2273 (**) Third Target + Resist
2269 (*) Second Target + Some Resist
2264 (*) First Higher Target
2260 (*) Early Pivot
2256 (*) First Lower Target + Small but maybe good enough support
2252 (**) Second Lower Target + Support
2248 (***) Third Lower Target + Bulls Better Show up
All the best;
Michael Blythe
Futures Strategist
Hamzei Analytics, LLC
Friday, December 16, 2016 Morning Crude Comments from MB
Volume finally moving into the Feb contract with the overnight volume slightly higher than the Jan. So all levels are CLG7 now.
I like buying $51.60, risking .20 to make .50 or selling $52.88, risking .20 to make .50 and selling $53.15, risking .25 to make $1.00
$53.18 (***) TGT 3 + Resist
$52.88 (**) TGT 2 + Resist
$52.55 (*) First Higher Target + Some Resist
$52.36 (*) Early Pivot
$51.97 (*) First Lower TGT
$51.58 (**) TGT 2 + Support
$51.10 (***) TGT 3 + Support
All the best;
Michael Blythe
Futures Strategist
Hamzei Analytics, LLC
Friday, December 16, 2016 Morning Bond Comments from MB
Return to orderly Treasury future trade yesterday. The 30 year trying to build at least a temporary floor. Over the last few weeks it has been normal to see about three sessions sideways to higher leading to a 2-3 handle bounce and then sellers reinitiate. I think the path of less resistance today, is weakness during the morning at least.
I like being short right now 148’24 as volume comes in at the open with a 8 tick stop looking for the first lower target. I like buying 148’12 small, with the potential of adding at 148’02, risking 10 ticks on the average, while looking for a bounce back to 149’00, or 24-25 ticks.
I like selling 149’16 and adding at 149’24, using a 12 tick stop on the average while looking for 32 ticks.
149’24 (***) Third Target + Best Resist
149’16 (**) Second Target + Better Resist
149’08 (*) First Higher Target + Small Resist
149’00 (*) Early Pivot
148’12 (**) First Lower Target + Some Support
148’02 (***) Second Lower Target + Better Support
147’04 (***)
All the best;
Michael Blythe
Futures Strategist
Hamzei Analytics, LLC
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