Friday, June 26, 2015
#PreMarket Thoughts and #CL_F Levels for Friday, June 26, 2015
CLQ5 now breaching
the 59.25 target mentioned yesterday
and also breaching the uptrend line from 56s.
Until first above 59.45 then above 59.70-59.90
zone the targets on the radar remain at 58.30 and 56.45.
Ethan Premock
Futures & Options Strategist
Hamzei Analytics, LLC
#PreMarket Thoughts and #ES_F Levels for Friday, June 26, 2015
Once
again zero bearish overnight (OVN)
follow through after a RTH session closing at the lows; not only has this
happened twice this week but OVN/pre-market is already indicating the potential
for a “yesterday never happened” as
RTH approaches. If today is going to be the same usual and scripted Friday of a
morning move (up or down) followed by several hours of low energy chop &
grind before a scripted late day or last hour ramp into the close there is very
good chance I may not even look at a ESU5
chart today and just focus on a more realistic CLQ5 chart.
Right
now ESU5 is testing value at 2098s; once/if back in value
during the RTH session the 80% Rule
will apply to the upside with potential to reach the other side of value at 2106s-2108s zone if first breaching above 2101s/02s. Once/if above 2108s
will be when I lose full interest in US equities today.
If
today is not the usual full recovery post a previous bearish RTH session the
bears will need to defend anywhere below 2102s;
if so 2088s/87s will be the first
lower target today then 2082s.If
below 2082 the bulls will not be in
any danger for real change while holding and closing above 2075-2066 zone.
Ethan Premock
Futures & Options Strategist
Hamzei Analytics, LLC
Thursday, June 25, 2015
#ES_F Update & Levels for Thursday, June 25, 2015
Although value at 2112s contained ESU5 upside both overnight (OVN) and also in the per-market session
it seems buyers I not willing to give up defending the 2100 area until a Greece deal is certain or not; however the bulls
are not succeeding to get and hold above today’s initial balance (IB) at 2105s or at least not yet. There is now
good chance the RTH session could be range bound between 2108s & 2100s while in Greece wait mode again.
Once/if above 2108s
I will expect a move to 2115s-2118s
zone or once/if below 2100 the next
lower target is at 2096s/95s. If a
breach below 2095 the final for the bulls
to defend is 2091s-2088s zone in
order to avoid the possibility of change.
Ethan Premock
Futures & Options Strategist
Hamzei Analytics, LLC
#CL_F Update & Levels for Thursday, June 25, 2015
CLQ5
was unable to hold the gains from Tuesday’s pop and until first above 60.35-60.65 zone there is high chance
of retracing lower to 59.25.
The bulls must defend above 59.25 otherwise 58.30
and 56.45 will be on the radar as
potential lower targets.
Ethan Premock
Futures & Options Strategist
Hamzei Analytics, LLC
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
#PreMarket Thoughts and #ES_F Levels for Tuesday, June 23, 2015
ESU5 is balanced while above
2112s and likely just in wait mode
while waiting on a Greece deal (or not) headline. This means high odds of
another scripted and boring RTH session until a Greece deal headline and/or
rumor hits the wire which also means to expect nothing more than the same
day/every day morning move (up or down) followed by several hours of low energy
chop & grind before a late day or last hour bullish move.
Seems
week after week the US stock market gets more boring as each week goes by; this
is because there is absolutely zero fear and without fear the slow, low volume,
low energy grind to new ATHs will
continue until the central bank/currency war bubble burst.
For
today if ESU5 gets below 2112 during RTH the threshold that
needs to hold for the usual scripted market to continue is 2106s-2103s zone. As long as above 2103 the bulls are in no danger of not reaching new ATHs this week; if so 2125s/26s will be the first upside
target for today then 2132s.
It
is very doubtful to see below 2103 before
a Greece headline but if below 2103
either pre or post a Greece headline/rumor the final for the bulls to defend
today is 2092s-2088s zone.
Ethan Premock
Futures & Options Strategist
Hamzei Analytics, LLC
Monday, June 22, 2015
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