Tuesday, July 21, 2015
#FXI Update Bias and Levels for Tuesday, July 21, 2015
For now FXI is
consolidating just below the 43.20-43.75
zone mentioned in several post and until above 43.75 there is chance of a lower high formation before heading lower. Once/if above 43.75 I will negate my current bearish bias
but for now the first key lower target is at 41.45-40.90 zone and if breached downside should resume back to
retest 38s.
If above 43.75
before lower there will be potential to reach 45.05-45.55 zone.
Ethan Premock
Futures & Options Strategist
Hamzei Analytics, LLC
Hamzei Analytics, LLC
#AAPL bias update ahead of earnings for Tuesday, July 21, 2015
All that can be said about AAPL is “High Expectations”
in fact very high. In my July 9th post I mentioned there was a very
good chance AAPL would likely grind higher
ahead of earnings if AAPL held above
the 120s-118s support zone pre-earnings,
which was the case. However I did not expect AAPL to go straight up and back to at/near ATHs and/or get through 127s/128s
with such ease before reporting earnings.
I also mentioned in my July 9th post that the
primary reason I am keeping a close eye on AAPL
is because the AAPL and ES emini/SPY charts have basically been identical
during the entire first half of the year in 2015, which I believe AAPL is playing a big role in holding
the S&P 500 within the range since
early this year (charts confirm) and doing so because of the “High Expectations” that AAPL's
iwatch sales would be the next catalyst for AAPL to soar higher and then also lead ES emini/SPY much higher as well.
In the July 9th post I talked about how I cannot get
excited about the iwatch until AAPL’s
watch does not need to be linked to a phone; this is why I am not so certain AAPL will meet the “High Expectations” regarding iwatch sales.
As for earnings today I will be very surprised if AAPL disappoints (or at least I will be surprised if AAPL disappoints in a
big way) but the question for me is will AAPL
be able to have massive bullish follow through in order to lead ES emini/SPY above the current range on
high volume if AAPL’s earnings are
anything less than last quarter, especially if earnings are not getting a boost
from iwatch sales ???
Every mutual fund, hedge fund, & retail investor is
already fully invested in AAPL so I
do not see new buyers stepping in (on heavy volume) above the range since
February without the catalyst of the “High
Expectations” from iwatch sales being achieved nor do I see strong upside potential other than an initial earnings short-covering
pop to 136s then 139s/140s targets, along with also having the
potential of short-lived upside if China starts to take a toll on iphone sales or
China starts to be on the minds of most investors.
Post earnings I will have an eye on the high volume area (HVA) at 128-126 zone for the remainder of the week to confirm if Longs are safe or if there will be potential that AAPL will not have the ability to lead or bring in new buyers above the range for ES emini/SPY.
Ethan Premock
Futures & Options Strategist
Hamzei Analytics, LLC
Hamzei Analytics, LLC
Thoughts and #CL_F Levels for Tuesday, July 21, 2015
What was support is now resistance; until CLQ5 gets back above 51s
there is still potential for lower with 49.90
as a must hold today otherwise 49.40-49.30
zone then 48.50 are targets likely to
be reached before higher.
To negate reaching lower targets CLQ5 must first get and hold above 50.50 to breach the current downtrend channel then also get above 50.75-51.10 zone.
Ethan Premock
Futures & Options Strategist
Hamzei Analytics, LLC
Hamzei Analytics, LLC
Monday, July 20, 2015
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.
