AUGUST 04, 2021 — WEDNESDAY AM
OUTLOOK RECORDING: In this edition of the Monthly Outlook, we discuss August seasonality, and the narrow ranges that have developed in the ES, YM, and NQ. We also discuss various industry groups, including Crypto, EV Vehicles, Gaming, and more! We also provide several actionable trading ideas, including in $BLNK, $TSLA, $INTC, and others. Here’s the recording link: https://www.youtube.com/watch?v=BF61OPs0twY
The ES, NQ, and YM continue to develop their respective narrow ranges, which are now developing 10-day ranges. Eventually, we’ll see expansion from these ranges, which could trigger 1-2 weeks of volatility ahead. Any pullback could offer a buying opportunity for new highs ahead. Continue to watch for further development until clear expansion occurs. Crude Oil remains weak, but also remains within it’s newly-minted key range, while Gold remains on a path higher, but needs above 1840.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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