APRIL 20, 2021 — TUESDAY AM
The ES has developed an inverted H&S below yLO, which could lead to a bear trap and rally ahead. Watch yLO at 41.75 for signs of rejection…otherwise, failure to reestablish acceptance back above this level could open up more downside. The NQ saw an overnight rejection of yLO and remains within it’s narrow multi-day trading range. Any pullback remains a buying opportunity. Crude Oil has hit resistance at 64, and Gold needs another higher low.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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