MAY 06, 2022 — FRIDAY AM
OUTLOOK REPLAY: In the May edition of the Monthly Outlook, we discuss the Fed interest rate decision and its effect on the stock market. Wednesday’s Fed-based rally could trigger decent strength over the next 1-2 weeks, but will this strength last? We talk futures, stocks, and crypto, and also provide several candidates to watch moving forward, including $ADBE, $MSTR, $SQ, $DLTR, and more! LINK: https://www.youtube.com/watch?v=srD2b5_GJoI
The ES, NQ, BTC, and ETH experienced crushing weakness during Thursday’s session, as the market wiped away Fed-day gains. Each of these markets are testing critical support levels, which could open up another major run to the downside ahead. Previous year’s lows are in view for the NQ today, with 12,207 within range. Crude Oil remains within the larger trading range, which spans from about 95 to 115.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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