Tuesday, June 21, 2016
#NFLX Bias & Levels Update for Tuesday June 21, 2016 by @mocktrade
Over the past couple of weeks I mentioned that
if not for the June rate decision being a possible game changer my bias for NFLX was more on the bearish side due to the
auction chart favoring a move/breach below the key 92.00 support.
NFLX has now
breached below the 92.00 support (and did so today) which I now expect NFLX to continue lower while/if holding below weekly value resistance for the remainder of the week just below 93.50 with 95.15-95.70 zone as the line in sand for sellers.
If above 95.70
either pre or post the Brexit vote I will then look at 98s as a potential upside and very important target for buyers to
get through in order for me to fully change to a bullish bias; however for now or
until if/then or until/if first above 95.70
my current bearish bias will remain with potential to reach the 78.6% Fib target at 89.80 before the bottom of the wedge at
88.45-87.95 zone, which will be a
most hold to avoid a possible NFLX disaster
with risk of a move below 80s/79s.
Ethan Premock
Futures & Options Strategist
Hamzei Anlytics, LLC
Futures & Options Strategist
Hamzei Anlytics, LLC
Tuesday, June 21, 2016 Morning Comments by Michael Blythe @FairValueTrader
Good morning. Global markets still appear to be somewhat resilient as the risk off trade somehow still finds momentum. Yesterday after the close, a couple of Brexit polls were released showing mixed results. With still a large number of voters still undecided, this vote will come down to the wire and uncertainty will persist this week as the markets are held captive by each poll.
In my prospective, it’s hard to imagine the ESU6 making a higher high today and instead I am looking for a lower high and possibly a lower low. At some point, risk concern ought to come back into equities IMHO. There is a Brexit poll to be released at 7:30 am CST (in just a few minutes from what I am hearing) and this of course could shift the balance of equities going into the cash open.
Levels to the downside 2078 (**), 2074 (*) and 2071 (**). Below there the market will aim for a gap fill to 2059 (***). To the upside, 2088 (**) should offer good initial resistance, followed by yesterdays 2092 (**) area high.
My bias is to sell this rally but I will attempt to continue to be as pragmatic as possible and remain on the side of the intraday trend.
All the best;
Michael Blythe
Futures Strategist
Hamzei Analytics, LLC
Monday, June 20, 2016
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.
