February 06, 2020 — THURSDAY AM
The ES and NQ are both trading above the January highs, but are beginning to show signs of slowing down this morning. While the market remains bullish, a reversion to the mean may soon be seen. Watch for signs of rejection at the previous month’s high. Crude Oil has rejected 52 again, and could be headed much lower if it can’t get back above this level. Gold remains mostly range-bound, with an upward bias.
Cheers!
— Frank Ochoa
Author, Secrets of a Pivot Boss