AUGUST 10, 2021 — TUESDAY AM
The ES and NQ continue to experience the summer doldrums, as the multi-week narrow ranges continue to develop. Average daily range has dropped by 40% in just 3 weeks, and further range-bound action could be seen until volatility is ready to return. Look to fade the edges with an upward bias. Crude Oil is showing signs of a bearish Failed New High, which could lead to a test of the mLO ahead. Gold is trading within a very narrow range after 2 days of heavy volatility, and could see a digestive day today.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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