NOVEMBER 08, 2021 — MONDAY AM
The ES and NQ remain in a very bullish melt up phase, as none of these markets have hit their respective 8-period PEMAs since the breakout in mid-October. Look for further overall strength ahead, with an upside target of 4805 in the ES. Crude Oil is dealing with a developing FNH, which could lead to some early weakness today. Failure to hold 81 opens up the downside. Gold is coiling up for a big move to come, and is approaching 1840, which could provide an opportunity to fade.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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