Thoughts On Father’s Day And The Week Ahead

The Hawkeye Traders E-Letter — Your No. 1 Source for Volume Trading Insights

Hi Trader, I hope your week is off to a great start. Over the weekend, we celebrated Father's Day… Which, as a son, a father and a grandfather, holds a special place in my heart. So, because Hawkeye is all about empowering traders to achieve the greatest degree of success they possibly can… And provide better, more secure lives for their families and loved ones… We're celebrating Father's Day all week long. In just a second, I'll tell you exactly what that means for you… But first, let's talk about what's in store for the week ahead. Now, late last week I saw a few headlines referencing a growing financial bubble… Which, if you've traded through any of the major bubbles in recent history, you know is a serious deal. But what does Hawkeye have to say about it? Let's take a look at the charts and find out.

On the S&P E-mini futures daily chart (ticker ES), we can see that the market is in the same range we left it in on Friday. Even though the ES opened a little lower yesterday, it quickly bounced back and began trading within this consolidation range. Now, there are a couple of things to mention looking at the most recent price bars here. First, you'll notice that following the June 11 selloff (indicated by the big red bar just above where that cursor is sitting), we saw three days in a row of WHITE volume. Hawkeye traders know that red bars indicate selling pressure… And green bars indicate buying pressure. But white bars indicate an EQUAL amount of buying and selling… Or what we refer to as neutral pressure. That means that, as of now, there's no clear indication of an impending break to either side… Which means that it may very well be a summer of choppy price action as long as we stay within this consolidation range. Now, if you look a little more closely at that chart, you'll notice little yellow dots at the bottom of certain price bars… And at the tops of a few others. Those are Hawkeye Pivots… And when we see one of those form at the top or bottom of a new bar, we adjust the top or bottom range of our channel to align with it. That's what we call "tightening the channel"... And just like a coil spring, it means the market is building and storing up energy until it pops… And we see a breakout to either the upside or the downside. So, what does all that mean with regard to the "bubble" some financial media have been talking about? Well, with as much neutral pressure as we've seen of late AND price trading within this well-defined consolidation range… Hawkeye so far has not shown any indications of the market trading down. … But it hasn't shown any signs of it trading up, either. And until we see a new Pivot form and a tightening of the channel, I suspect we'll watch price continue to bounce around within this current range. Now, if you'd like to be able to read the markets with this kind of clarity and find high-conviction, low-risk trades by staying a step ahead of price movement… Then the Hawkeye Professional Package just may be for you. Today only, you can actually grab your own copy at an incredible discount… As part of our week-long Father's Day celebration sale. Remember: the Professional Package is our most robust suite of indicators that includes nearly every tool in the Hawkeye stable. So if you've been putting off purchasing this powerful package… Or thinking about upgrading your current subscription… Then call my director of Client Services, Jordan, TODAY at (888) 233-8598 to find out the details of this very special offer!

Crude Corner: Oil Industry Insights, Market Analysis and Price Outlook

WTI Light Sweet Crude Oil Futures Analysis August - CLQ20 Contract Crude Corner Outlook: The mid $38.00 price area will likely contain selling pressure. The mid $43.00 price area is now likely and able to be obtained within several weeks. Near-Term Bullish Scenario: The mid $41.00 price area can contain initial strength, beyond which the mid $43.00 price area is attainable intraday and likely able to contain session strength where the market could potentially top out into July trade. Near-Term Bearish Scenario: Closing below the mid $38.00 price area indicates a good high through July has already been placed. The mid $34.00 price area then expected within several days and the mid $27.00 price area within several weeks. Check out our Crude Corner long-term market analysis outlook charts AND our Crude Corner weekly breakout chart with active support & resistance price area(s). Want to learn more about the system Anthony uses to find profitable trades in an unpredictable market? Click here to view a no-cost training video right now!

The Hawkeye Team

Hawkeye Traders team1@hawkeyetraders.com hawkeyetraders.com

Call us: (888) 233-8598

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