May 08, 2020 — FRIDAY AM
NOTE: Thank you very much for joining me for our Monthly Market Outlook webinar, which we hosted FREE in our PivotBoss Echofin Trading Room. To view the recording, log in to our trading room at https://pivotboss.echofin.co and view the PivotBossTV video playlist. You can also visit https://pivotboss.com here: https://pivotboss.com/2020/05/04/pivotboss-monthly-outlook-may-04-2020-talking-shak-tdoc-and-ww/
The ES and NQ are holding at the highs of the week after a strong week that began with rejection at the previous week’s close prices. We are now seeing compression at highs, which could break either way this afternoon. A downside break would indicate profit-taking heading into the weekend. Crude Oil developed a strong rejection day in the previous session, and is now showing a midpoint retest opportunity. Gold remains range-bound, but I discuss the levels to watch.
Cheers!
— Frank Ochoa
Author, Secrets of a Pivot Boss