December 10, 2019 — TUESDAY AM
The ES and NQ have developed very sharp overnight rejections, which could eventually trigger the next swing rally ahead. Given the overnight lows, expect further upside action today, and look to defend pullbacks. If this rejection holds true, we could see several days of uptrending action should a breakout occur. Crude Oil has developed a narrow 60min range, which is the one to watch for expansion soon. Gold remains range-bound, with a downward bias.
Cheers!
— Frank Ochoa
Author, Secrets of a Pivot Boss