May 15, 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 have pulled back from the previous session’s highs and are now testing the previous day’s midpoint, which is a very significant level for near-term directional conviction. Keep an eye on 2807 in the ES, and 8975.50 in the NQ. July Crude Oil saw an upside break from the narrow 7-day range yesterday, and is still holding above the breakout point of 27, which is now the most important level moving forward. Gold remains bullish and pushing through 1715 recently, and could be headed to 1760-80. If this zone is hit, it may be time to take some profits off the table.
Cheers!
— Frank Ochoa
Author, Secrets of a Pivot Boss