July 16, 2020 — THURSDAY AM
The ES and NQ traded below the previous session’s lows in early pre-market trading this morning, but it appears late sellers have become trapped, which could lead to Failed New Low with the potential to squeeze higher into the close, perhaps as high as the previous session’s highs. If bulls can seal off yesterday’s lows, look for strength that could lead to a bullish outside day, which could trigger even more strength over the next several days. Failure to hold 10525 by the end of the day could lead to a major failure of this bullish idea, however. Crude Oil remains within a narrow 10-day range, but the energy is there for a big breakout opportunity. Gold is sitting above 1800, but needs above 1820 for a shot to squeeze higher.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
PIVOTBOSS LINKS:
Trading Room: https://pivotboss.echofin.co
PivotBoss: https://pivotboss.com/
PivotBoss Masters: https://pivotbossmasters.com/
Merchandise: https://pivotboss.com/merchandise
FOLLOW ME HERE:
YouTube: https://youtube.com/pivotbosstv
Twitter: https://twitter.com/pivotboss