December 19, 2019 — THURSDAY AM
The ES and NQ have developed very narrow trading ranges over the last three days. As a matter of fact, the ES has a current 3-day range of just 11.50 points. This type of price action typically suggests expansion ahead, which will likely be to the upside. However, with holiday-trading in full effect, it may be a quiet ride higher. Failed new lows offer great long re-entries. Crude Oil remains bullish, and Gold may be headed lower still.
Cheers!
— Frank Ochoa
Author, Secrets of a Pivot Boss