October 20, 2020 — TUESDAY AM
The ES and NQ continue to pull back from recent highs and have developed a pattern of lower highs and lower lows over the last 6+ days. Failure to push above yMid could lead to more downside ahead, likely back toward the 9/16 FOMC key levels below. Above 3460 and 11800 and bulls begin to regain control. Crude Oil continues to hold below the key 41.50 level, and Gold remains range-bound this month ahead of what could be a major breakout soon.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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