June 23, 2020 — TUESDAY AM
The ES, NQ, and YM each had major overnight shakeouts that ran the stops down to the previous week’s close before reversing sharply higher. This overnight shakeout may be the last move lower before the market sees an explosive upside breakout on the daily timeframes, which could send these markets sharply higher over the next 1-2 weeks. If these markets can extend gains into the close, or at least hold them, we may see significant expansion ahead. Crude Oil remains bullish, and Gold may see a downside rotation off the top of its 3-month trading range.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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