AUGUST 25, 2021 — WEDNESDAY AM
The ES and NQ are both trading within extremely narrow 2-day narrow ranges, which are still developing. These ranges have developed at highs after recent strength, which suggests more upside ahead. A bullish FNL could trigger another push higher. Fed Chair Powell is speaking Friday morning, which could also lead to further range-bound action. Crude Oil remains bullish and on a path to 70.27, while any pullback as deep as 1760 offers a buying opportunity for a continuation to 1835.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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