Monday, June 15, 2015
#PreMarket Thoughts and #ES_F Levels for Monday, June 15, 2015
Not
sure what to think of the Sunday night overnight (O/N) gap down just yet; hard
to imagine there will be any meaningful follow through being FOMC/Yellen week
especially while ES holds above the initial gap down low made right at
the OVN open and/or if also continuing to grind above the uptrend line from
last week’s low as well.
Until/if
the current uptrend line from last week’s low is breached I will assume the
usual which means RTH focus will most likely only be on FOMC and whatever
spooked OVN futures last night will magically (and once again) be fixed by NY
lunch-time today.
After
the cash open I will first have an eye on 2082s/83s as first resistance
which is also value at 2083s. Once/if back in value the 80%
Rule will apply to the upside with potential to reach the 2nd
resistance target at 2086s before heading to the 80% target at 2089s-2091s
zone.
If
change is truly here (unlikely) ES would need to hold below value/-2083s
during RTH and then head to the first lower target for today at 2070s-2068s
zone then 2064s-2062s zone. Until a move/hold/close below 2062
there is no need to map out lower targets as odds favor BTD during a
FOMC/Yellen week.
Ethan Premock
Futures & Options Strategist
Hamzei Analytics, LLC
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.
