January 25, 2021 — MONDAY AM
The ES and NQ remain very bullish, and pullbacks remain buying opportunities until proven otherwise. While the ES and NQ may be at cycle highs, any reversion to the mean could provide a nice bounce ahead. We’ll get another FOMC Statement and fed interest rate decision this week, which will give us another FOMC key level to work with. Crude Oil remains within a narrow developing trading range. A pullback as deep as 50 could still be bought for new highs ahead. Gold remains bullish, but needs above 1874 in order to reach 1900, or higher.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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