Wednesday, June 24, 2015
#PreMarket Thoughts and #CL_F Levels for Wednesday, June 24, 2015
Unless first below 60.50
there is good chance CLQ5 will/should
continue higher from the move off the 59.50-ish
support yesterday. If so or in order to move higher with ease CLQ5 must first get and hold above 61.30.
Once/if above 61.30
the first upside target will be the low volume area (LVA) at 61.75-ish then the key resistance at 62.10.
If below 60.50
today a must hold to keep a bullish bias is 60.10
otherwise the possibly of move to 59.95-59.80
zone will increase.
Ethan Premock
Futures & Options Strategist
Hamzei Analytics, LLC
#PreMarket Thoughts and #ES_F Levels for Wednesday, June 24, 2015
US stock market still balanced while in wait mode for Greece deal headline.
Due to ESU5 already recovering most of the OVN drop as RTH approaches I will expect two possible scenarios for today; either a straight up move right out of the gate from the cash open to 2117s-2120s zone and then staying balanced between 2020s-2112s or a retest of the overnight (OVN) low at 2108s which will either hold or have a small shake before a slow grind back to balanced and above 2112s just like yesterday followed by several hours of chop & grind while RTH waits on the Greece headline/rumor in order to have the legs to squeeze to new ATHs.
Once/if new ATHs are in the cards or once/if above 2120s the first upside target is at 2025s-2127s zone then 2134s-2136s zone. Only chance for the usual RTH script being negated today is if a move and hold first below 2105; if so 2101s/2100s will be the next lower target followed by a must hold by the bulls at 2097s-2095s. A move/hold/close below 2095/04 is the only hope for the possibility of real change.
Ethan Premock
Futures & Options Strategist
Hamzei Analytics, LLC
Tuesday, June 23, 2015
#PreMarket Thoughts and #CL_F Levels for Tuesday, June 23, 2015
After
yesterday’s late day bullish move my bias for CLQ5 is now neutral; however as long as above 59.50 there is better odds CLQ5
will have bullish follow through from yesterday’s upside move. If so and in
order to continue higher with ease the high volume area (HVA) at 60.45-60.65 zone must get breached to
the upside then 60.80-60.95 zone as
well, otherwise CLQ5 may stay
balanced/neutral between 60.65 and 59.50.
Ethan Premock
Futures & Options Strategist
Hamzei Analytics, LLC
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