March 1, 2021 — MONDAY AM
NOTE: Please join us for the Monthly Market Outlook for the month of March on Monday, March 1 at 4PM CT. This is a FREE event for everyone, and we’ll discuss futures, stocks, and also take your requests. Please use the following ZOOM link to join: https://zoom.us/j/91647280567
The ES closed right at the monthly pivot range, while the NQ closed below its higher value relationship, which is indicative of a weakening market. The bounce higher into the monthly pivot range for the NQ, specifically, could be met with selling pressure early in the weak and early in the month unless it can reclaim the previous month’s midpoint. Watch 3860 as an early pivot for the ES, as a push through this level could open up some strength. Crude Oil is showing early weakness off the 63 level, and could see a return to the monthly pivot range in the 60 zone. Any pullback to begin the month could offer a buying opportunity for a push into 65 above. Gold continues to be met with selling pressure in the bearish PEMA trigger zone, and has broken the major 1760 support level, which could open up a move into 1660 soon.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
PIVOTBOSS LINKS:
Trading Room: https://pivotboss.echofin.com
PivotBoss: https://pivotboss.com/
PivotBoss Masters: https://pivotbossmasters.com/
Merchandise: https://pivotboss.com/merchandise
FOLLOW ME HERE:
YouTube: https://youtube.com/pivotbosstv
Twitter: https://twitter.com/pivotboss