JULY 30, 2021 — FRIDAY AM
The ES has developed a narrow 6-day range that suggests a move north of 175 points could be seen ahead. If we pullback early in August, it could provide a buy-the-dip opportunity for a continuation higher. The NQ is trading within a narrow 7-day range, and any test of mLO early in August could provide a good bear trap. Crude Oil has bounced off yMID for the day, and likely sees more strength toward the 75s by early next week. Gold remains above 1790 and needs above 1840 to open up the FOMC key level above at 1863.80.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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