AUGUST 03, 2021 — TUESDAY AM
NOTE: Please join me later today, Tuesday, Aug 3, 2021 at 4pm CT for our Monthly Market Outlook. We’ll discuss that markets and talk August seasonality, industry group rotation, and stocks to watch for the next month and beyond. Please use the following ZOOM link to join: https://zoom.us/j/92517785781
The ES and YM remain within developing 8-day narrow trading ranges, which could release a ton of energy soon. The YM and RTY each developed bearish outside days in the previous session, while the NQ and ES developed bearish FNHs. Any morning pullback could offer an opportunity for bears to defend yesterday’s midpoints for a shot at new lows ahead. Crude Oil remains bearish and is making a move for 68s, while Gold remains range-bound between 1790 and 1835 for now.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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