May 04, 2020 — MONDAY AM
NOTE: I will be hosting a Monthly Market Outlook on Monday, May 4, 2020 at 4:00pm CT in the PivotBoss Echofin Trading Room. Sign up and join us for FREE at https://pivotboss.echofin.co. I will be discussing futures, stocks, and looking back at our April picks. I hope to see you this afternoon!
The ES and NQ have pulled back over the last few days, but are now testing the pivot range for May, which could provide support and lead to a bounce higher over the next 1-5 days. A failure to hold the bottom of the pivot range will suggest a bigger failure ahead, but until then watch for signs of a bounce. Crude Oil may be headed toward 25, but this level may prove to be strong resistance. Gold remains stuck between 1675 and 1775.
Cheers!
— Frank Ochoa
Author, Secrets of a Pivot Boss