January 06, 2021 — WEDNESDAY AM
NOTE: I will be hosting our PivotBoss Monthly Outlook for January 2021 on Wed, Jan 6 at 4pm CT. We will analyze futures, stocks, and crypto, and will offer prospects for the first quarter of the year. Please use the following link to join this free webinar: https://zoom.us/j/98170999086
The ES and NQ saw bear bull traps develop above yHI, which led to heavy selling pressure overnight and pre-market. The NQ has already developed a bearish outside day, with the potential to see more downside if it can’t stay above 12600. If bulls can regain control of 12650, then a retest of 12800 could be in the cards. Crude Oil is trading 50 and is holding above short term support at 49.50. Gold hit 1960 and saw immediate selling pressure…what next?
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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