APRIL 14, 2021 — WEDNESDAY AM
The ES remains in a melt up phase, as does the NQ. This low-volatility sideways-to-up price action will likely persist until proven otherwise, especially with Fed Chair Powell speaking at 11am CT. Keep in mind, a melt up phase can precede a significant pullback, although no signs of a pullback are currently present. The NQ hit 14k, and still has 15k as the final upside target ahead. Crude Oil appears headed to the top of the range at 62, and Gold needs above 1765.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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