AUGUST 16, 2021 — MONDAY AM
The ES and NQ remain bullish, but also continue to trade within a low-volatility state. While any pullback remains a buying opportunity for new highs ahead, it may take some time to see any return of volatility so that a pullback may even occur. At the present, the ES remains within a melt up phase, with a shot to see 4545 down the road. Crude Oil remains weak on a short term basis, and is testing qMID, which could open up qLO if a failure occurs. Gold continues to snap back after the recent flash crash, and is likely headed back to 1800 – the point of origin of the initial selling pressure.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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