February 10, 2021 — WEDNESDAY AM
The ES and NQ continue to trend higher, but daily range and volatility have been cut in half over the last 5 days compared to the previous 2 weeks. This may be a sign that the market may be losing some steam at these highs, and could need some sort of pullback before another round of strength is seen. Continue to watch 2-day highs for signs of near-term failure. Overall, any pullback remains a buying opportunity until proven otherwise. Crude Oil remains on a path to 60, and Gold remains range-bound between 1780 and 1880.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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