November 09, 2020 — MONDAY 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 market saw explosive volatility after the announcement by $PFE that their vaccine is 90% effective in preventing COVID-19. The ES, YM, and Crude Oil rallied tremendously on this news, with ADR values well over 200% heading into RTH trading. However, the NQ isn’t seeing the same response, and Gold is lower by 3% on the same news. Can the market hold these gains, or improve on these gains? We need to see acceptance at these levels in order for more strength to be seen, which means the ES needs to find a way to stay above 3600. Can Crude Oil find a way to stay above 41.26? If not, we may see a fade back within the day’s ranges.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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