What is going on Brazil? $EWZ #BRIC #changebrazil

Here´s a brief video explaining in very clear terms the demands and reasons that gave way to more than 1MM people rallying during the last few days against government reforms

DP.-

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Recap + Roadmap * $ES_F

Following up on yesterday´s post, ESU found containment 3 ticks below of 1598 during the O/N session, as provided as one of the possible scenarios.

Downward pressure broke 1573.50, but no sell off triggered below this level, as I was expecting within a possible scenario. Buyers managed to defend 1570.75, which marked new lows on ESU, a level not seen since late April, which also happens to be the level that ignited   the one month-100+ pt. rally that brought the market to new highs at 1685.75 in May 22.

Choppy market today. As a very short term view, I will be looking into more downside, provided any rally gets contained by 1592 (white), followed by  1597.50 (blue) & 1602.50 (orange), as general guidelines.

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To the downside, 1573.75, followed by 1566. If the latter fails to attract any buyers, I will be looking at 1553.75 as an extended target, all levels marked in yellow into the chart below.

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I will be updating during next week.

Enjoy your weekend.-

DP.-

$ES_F * Recap with important levels to watch $SPX $SPY

Prior to the issuance of June NFP Report on Friday June 7th, I posted some observations and important levels that seem to interesting to revisit, specially in lieu of today´s sell off.

The Line in the Sand was set into 1620. Therefore:

Above 1620

1653

1650

1646

1644-42

1632-30

1626

.. While Below 1620

1610-1607

1596

1592-94

1587

1580

The following chart, relates the above referenced levels with price action, dating from June 13, until today. 

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Yesterday,  Wed. June 19th, ESU broke 1620, reaching 1612.50. Today, it opened up -briefly- to the upside, although it was not able to recover above 1620, which -not coincidentally- was the level in which the 40+ pt. sell off started.

There were key levels pointed today during preceding posts, which are still valid. Price action was relentlessly brutal for anyone trying to defend a long position, not only in ESU, but in every single asset I monitor on daily basis: Crude Oil (CL_F), Gold (GC_F) and EUR/USD.

Regarding ESU, I´m sticking to the levels posted during today´s updates.

I am leaning into further downside into the next few days, unless I see an intense and important buying response, rejecting lower value areas. In that sense, I will be looking into 1592.5 as a key level for buyers to regain, followed by the 1600-1598 & 1614-1610. Ideally, I would like to see the -broader- 20 pt. 1626-1606 area to be cleared in order to resume into further upside.

Alternatively, price action is approaching 1573.50, another key level I would be looking for buyers to defend. If buyers do not successfully support it, I will then be looking into 1565 & 1554, as extended targets.

Short term, the 1593-1587 area will contain price without modifying the above, eventually extending into 1597.75. Both areas are marked in blue and white on the chart below.

Image

DP.-

 

 

 

$ES_F * Further Update * $SPY

1592 was breached. Currently 1579.75 as the LOD, price level pointed out before.

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1592, followed by 1602-1600 are important areas for buyers to pressure into, eventually into 1604

Below the current area 1574-72. If it fails to attract buyers, I will the be looking 1566, and 1556-1500, as an extended target.-

DP.-

$ES_F * quick update

Levels posted back in June 7 are still in force. 

1592 is the current price point that needs to hold if buyers want to keep control. It is an important price level to be aware, as marked before. Above, 1605.25-1603.25 as the narrower balance area.

Below 1592, it could get ugly. I will be looking at 1586.50, 1583, 1581.25 & 1579-1580.

Image

Will develop further later.

DP.-

End of The Day/Week Wrap Up + levels to watch * $ES_F

Following on some of previous posts, ESU broke mid-morning highs right before the close at 1644. Below is the original roadmap from Thursday night, with he addition of today´s high (in purple). I was expecting a break of 1641/42 to bring more buyers into 1647, as an extended target. It did not happen today.

2013-06-07_1712

Price reached 1643.75, less that 2 point short of the scenario target set forth yesterday, and breaking .

2013-06-07_1917

New Area (above the original 20 pt. range, marked in white) in the midst of development, provided buyer’s follow up.

2013-06-07_1718

1632-1629 as immediate level in which I will be looking for support, followed by 1626 & 1622/20. Below, the levels pointed out on Thursday are still in force, both below and above.

– Below 1620

1610-1607

1596

1592-94

1587

1580

 

2013-06-06_2103

– Above 1620

1653

1650

1646

1644-42

1632-30

1626

 

That´s it, for now. Have a Good Weekend.-

DP.-

Roadmap & Update * $ES_F

Muted response to NFP report, so far. ESU has been capped at 1635, as I am writing this post.

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1620 has held the overnight floor and it is still the first barrier I´ll seek of buyers to eventually defend, provided 1625´s do not bring a buyers response.

All the levels posted yesterday are still valid, being 1625 & 1620 the short term barriers for sellers & and 1635, 1642 & 1646 for buyers to keep pressuring .

DP.-