#PreMarket Thoughts and #ES_F Levels for Thursday, July 2, 2015
No
change in ESU5 levels, bias, and
thoughts as yesterday which was somewhat expected being a short holiday week
ahead of NFP. Right now ESU5 is
balanced between 2078s & 2060s; until either is breached my bias
will remain neutral.
Once/if
above 2078s the bulls will then need
to get through 2084s-2086s zone in
order to have upside with legs and potential to re-test 2098s-2100s zone, and/or once/if below 2062s-2060s zone the bears must first get through 2053s/52s for chance to resume selling
below this week’s low at 2046s; if
so 2037s-2035s zone will be the
first lower target then 2026s/2025s.
This
week has been a very nice change for two way day-traders from most weeks this
year. Even yesterday which started out very choppy ended up giving a good Short and also a good Long; both were +10 points. My hope is that NFP does not give the 2015 bulls an
edge otherwise there will be chance that the fun this week (as a two way
day-trader) will be short-lived and next week the market will go right back to
the usual slow chop & grind RTH
sessions during the entire first half of 2015. Rather see the complete opposite
during the 2nd half of 2015.
Ethan Premock
Hamzei Analytics, LLC
