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Our  TIMING SERVICE, in partnership with Hamzei Analytics, is a very useful product with SUPERIOR results used by leading market professionals –

USE IT TO TIME YOUR TRADES 

FINVIZ HEAT MAP – The month to date – the land remains generally bullish

Screen Shot 2017-08-07 at 07.16.26

 

SPX – WATCHING TO SEE IF THE BREACH HOLDS above 2477.4 AT THE CLOSE TODAY  TO HOLD THE BULLISH UNDERCURRENT

Screen Shot 2017-08-07 at 07.19.16

 

NDX – MOTION IS TENTATIVE BUT TRADERS TEST RESISTANCE  

Screen Shot 2017-08-07 at 07.21.15

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CONSIDERATIONS FOR Aug 7, 2017

ES_F– Charts tested and rejected prior resistance and traders are headed to higher support tests. Support sits near 2470.5  Resistance is still near 2478 as we remain relatively range bound. The bullets below represent the likely shift of trading momentum at the positive or failed retests at the levels noted.  

  • Buying pressure intraday will likely strengthen above a positive retest of 2476 (careful again here with resistance)
  • Selling pressure intraday will likely strengthen with a failed retest of 2470
  • Resistance sits near 2476 to 2477.5, with 2479.5 and 2483.75 above that
  • Support holds between 2470.5 and 2467.75, with 2465.5 and 2461.75 below that

Here’s the economic calendar for a rundown of today’s releases

Screen Shot 2017-08-07 at 07.27.14

 

***NASDAQ Futures***

NQ_F- The weak wedge continues to build – with higher lows and lower highs, in general. Resistance sits near 5921.75 and then above at 5934.5.  Support regions sit near 5890-5877.  Momentum remains mixed but charting a bit lower- suggesting support tests likely off spikes higher.  Watch for resolution of price above 5900 to give buyers some advantage.  The bullets below represent the likely shift of intraday trading momentum at the positive or failed tests at the levels noted –

  • Buying pressure intraday will likely strengthen with a positive retest of 5912
  • Selling pressure intraday will likely strengthen with a failed retest of 5884
  • Resistance sits near 5921 to 5924.75, with 5934.75 and 5946.75 above that
  • Support holds between 5884.5 and 5878, with 5870.75 and 5861.5 below that

Screen Shot 2017-08-07 at 07.35.48

 

*****Mini DJIA Futures*****

YM_F – New overnight highs yet again in the YM and a fade into higher support once more.  This support is higher -22019. Momentum remains largely bullish. Resistance sits near 22081- our overnight high, with a new Fibonacci extension near 22094.  The bullets below represent the likely shift of intraday trading momentum at the positive or failed tests at the levels noted –

  • Buying pressure intraday will likely strengthen above a positive retest of 22034
  • Selling pressure intraday will likely strengthen with a failed retest of 22019
  • Resistance sits near 22074 to 22081, with 22094 to 22124 above that
  • Support holds between 22019 and 22000, with 21984 and 21955 below that

Screen Shot 2017-08-07 at 07.49.44

 

***Oil –WTI Crude***

CL_F – Range bound behavior at levels between 48.4 and 50.1 or so – but these edges are tightening.  Deep pullbacks will continue to hold regions for buyers to engage in the current formation – and large spikes up will bring sellers out as well.  Momentum is mixed to bullish.  Below 49.1, we are likely to see 48.78, 48.55 and 48.36.  Buyers are in greater control above 49.27.  The bullets below represent the likely shift of trading momentum at the positive or failed tests at the levels noted. 

  • Buying pressure intraday will likely strengthen with a positive retest of 49.46
  • Selling pressure intraday will strengthen with a failed retest of 48.3
  • Resistance sits near 49.43 to 49.74, with 49.94 and 50.4 above that
  • Support holds between 48.75 to 48.35, with 48.25 and 47.92 below that

Screen Shot 2017-08-07 at 08.01.00

 

GC_F – 

Screen Shot 2017-08-07 at 08.08.24

 

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