MAY 18, 2021 — TUESDAY AM
The ES and NQ are both trading mostly inside the previous session’s range. We may see further range-bound action over the next day or two until we see a further upside continuation. Failure to stay above 13200 could lead to another round of selling pressure for the NQ, however. Crude Oil reaches new highs above 67, and remains on path to 68-70. Gold reached our 1875 target, and is now at the top of market structure, which means we could see a pullback soon. Any pullback could still offer a buying opportunity for a continuation toward 1960 down the road.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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