November 06, 2020 — FRIDAY AM
MONTHLY OUTLOOK: Thank you for joining me for our November Monthly Outlook. We discuss the broader market futures, seasonality tendencies, and key ranges for many of the biggest stocks, including $AAPL, $TSLA, $NFLX, and more! In case you missed it, or want to watch it again, here’s the link: https://pivotboss.com/2020/11/05/pivotboss-monthly-outlook-november-04-2020-key-levels-for-aapl-tsla-and-more/
The ES and NQ have bounced from pre-market lows and are now testing key intraday levels at 3500 and 12,000, respectively. Failure to find acceptance above these levels could trigger near-term selling pressure ahead. In this scenario, a downside swing target will be the 9/16 FOMC key levels at 3400.25 and 11,355.75. Crude Oil is attempting to develop a bullish FNL pattern, which could trigger more strength ahead. Gold got a huge transition day Thursday, which may have finally triggered the upside breakout we were looking for. This breakout could lead to much higher prices in the short and medium term.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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