December 09, 2019 — MONDAY AM
The ES and NQ are trading within narrow ranges ahead of this week’s FOMC Meeting and Fed Interest Rate Decision – the last of the year. The markets could trade rather quietly heading into Wednesday’s trading, but volatility will likely soon pick up thereafter. Overall, key CLVNs have developed in both the ES and NQ, which will offer strong buying opportunities when tested, until proven otherwise. Crude may see a cycle down move, while GC is still mostly range-bound with a downward bias.
Cheers!
— Frank Ochoa
Author, Secrets of a Pivot Boss