MAY 25, 2021 — TUESDAY AM
The ES and NQ are trading within very narrow ranges heading into the RTH open, with the ES at 24% of ADR, and the NQ at 35%. Each range has developed at the top of Monday’s range, so watch yCL for signs of a return to yMID. Overall, any morning pullback could offer a buying opportunity for later in the day and week. Crude Oil closed above 66 again, and has typically sold off from those highs soon after. Failure to hold 65 could open up a broader pullback. Any pullback below 1860 could offer a buying opportunity for 1900 in Gold.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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