August 01, 2019 — THURSDAY AM
The market is now post-Fed rate cut, which has given us key levels to use and trade by over the next several days, weeks, and even months. The market initially sold off after the rate cut, which means we could see additional selling pressure ahead in the month of August, as this month tends to have a bearish seasonality. The ES and NQ have developed higher value relationship with the pivot range, but with monthly closes below these ranges, which suggests weakness ahead, as well. Here are the levels we’ll focus on during the morning session of the PivotBoss Trading Room.
This video also includes: E-Mini S&P 500, E-Mini Nasdaq 100, Crude Oil, and Gold.
Cheers!
— Frank Ochoa
Author, Secrets of a Pivot Boss