MAY 07, 2021 — FRIDAY AM
The ES finished Thursday’s trading with a bullish outside day ahead of today’s NFP report, while the NQ finished with a very strong FNL. Each market remains within a narrow range today ahead of the NFP report, but more volatility could be ahead. Look for ES bulls to defend any pullback to 4175-4180 for a shot at higher highs. NQ bulls need above 13700. A failure to hold 13500 by the end of the day could suggest a failure of this bounce for the NQ. Crude Oil is still trying to find a low, and Gold remains on a path to 1850-1875, and perhaps as high as 1960 down the road.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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