MAY 13, 2021 — THURSDAY AM
The ES and NQ are showing early signs of rejection of yLO/yCL, which could be an indication of strong lows developing. The ES needs to stay above 4050 and the NQ needs to remain above 13k for further intraday strength to be seen, likely back toward yMID, and perhaps toward the midpoint of the recent impulse selloff. If these can bounce back to the midpoints of their recent declines, we may have ourselves new key ranges to work with. Crude Oil continues to test the important 64 key level, and Gold bulls want to defend any pullback into 1800 for a continuation higher.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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