November 16, 2020 — MONDAY AM
Moderna announced it’s vaccine has an efficacy of 94.5%, which boosted the ES and Crude Oil, while sending the NQ and Gold lower. This is the same correlation that occurred when Pfizer announced vaccine news last week. Can the ES close above 3587 today? If not, we could see a lower high develop with a downside target at 3400.25. Continue to watch 12,000 in the NQ, as a lower high rejection could open up 11355 below. Watch 42 in Crude Oil, and the 5-day narrow range in Gold forecasts a major breakout ahead, likely to 1970.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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