December 12, 2019 — THURSDAY AM
The ES and NQ are holding near highs after Wednesday’s FOMC statement and rate decision. Given the overall trend, these markets are likely to continue trending higher, until proven otherwise. A failure to hold the recent pivot low will suggest a failure. Crude Oil has developed a narrow 5-day range and could be due a 4.50-pt breakout soon. Is Gold breaking to the upside? If so, it could be the beginning of a major multi-month move to come.
Cheers!
— Frank Ochoa
Author, Secrets of a Pivot Boss