OCTOBER 05, 2021 — TUESDAY AM
MONTHLY OUTLOOK RECORDING: If you missed our Monthly Outlook, or want to re-watch it, please find the link below. We covered higher timeframe market structure in the NQ, CL, and Nat Gas, and also talked stock ideas heading into the end of the year. Enjoy: https://www.youtube.com/watch?v=lVfuzj_ZECg
The ES and NQ remain within very clear downtrends, and could see more downside ahead, especially with the ES yet to hit qLO. We’ll continue to watch for a flush of qLO in both the ES and NQ for a potential Q4 rally. Early strength today could be sold, especially if yMID remains resistance. Crude Oil is trading new 7+ year highs. If it closes the week through 80, it could market a transition phase to higher market structure between 80 and 110. A pullback to 1740 in Gold could offer a buying opportunity with targets at 1780, 1800, and 1840.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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