January 26, 2021 — TUESDAY AM
The ES and NQ ended Monday’s trading with solid reversals from the morning lows. The ES also developed a buy signal in the daily timeframe, with bulls now defending the midpoint of yday’s session at 3820. Given the overall trend, pullbacks remain buying opportunities, but we may see a period of range-bound activity ahead of Wed’s FOMC Statement and rate decision. Crude Oil has developed a narrow 10-day trading range, which has built enough energy for a potential 6-point move soon.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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