MARCH 26, 2021 — FRIDAY AM
The ES developed a strong low during Thursday’s trading, which opens up more upside price action over the next 3-5 days, and perhaps up to two weeks. However, the NQ rejection wasn’t quite as strong, and is now showing early signs of rejection at yHI, which could lead to a failure of this upward effort. Bulls need to keep price above yMID today, otherwise, the NQ may develop a bearish outside day. Crude Oil is trading within a clear 4-day trading range, and is working toward the upper edge of the range. Gold remains within a developing narrow 10-day range. This range suggests a breakout move of about 80-100 points, which could be to the downside.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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