May 13, 2020 — WEDNESDAY 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 approaching key levels from below after Tuesday’s late-day selling pressure. This retest from below could provide an opportunity for bears to defend and push prices lower. Watch 2882.50 to 2900 in the ES, and 9200 in the NQ. Crude Oil has developed a narrow 5-6 day range and is due a significant breakout soon, likely of about 7-8 points of range. Gold is beginning to see strength through 1715, which could trigger a move to 1740, and perhaps beyond.
Cheers!
— Frank Ochoa
Author, Secrets of a Pivot Boss