OCTOBER 07, 2021 — THURSDAY AM
The ES and NQ have broken through multiple-day highs and have rallied in overnight and pre-market trading ahead of the RTH open. This is a significant move, but will the gains hold? The lower value relationship on the monthly pivots suggests bears have an upper hand until mMID is taken out. Will price close above today’s midpoint, or below it? Crude Oil has pulled back into the bullish PEMA trigger zone and is already developing another buy signal. Look to defend 76s today for a shot at new highs. Gold is holding within a narrow 5-day range, and needs to hold 1740 or another flush may occur.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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