MAY 10, 2022 — TUESDAY AM
The markets are exhibiting a strong turnaround after Monday’s heavy selling pressure, as Turnaround Tuesday is in full effect. The NQ is bouncing off last year’s low price, which can tend to be the low looking outward 1 to 2 years. The ES and NQ are both bouncing off yearly S3, which can tend to be a strong low, as well. The ES is also bouncing off the key 4000 level. BTC and ETH are up big, as extreme reversals are developing. BTC also tested prices below 30k for the first time since last year, and so far are being rejected. Is this the beginning of a developing bottom for the broader market? Yesterday’s midpoint will be the level to watch today, as a close above these levels will go a long way to short term strength ahead, which could develop into broader strength on a longer term basis.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
PIVOTBOSS LINKS:
Trading Room: https://pivotboss.echofin.com
PivotBoss: https://pivotboss.com/
PivotBoss Masters: https://pivotbossmasters.com/
Merchandise: https://pivotboss.com/merchandise
FOLLOW ME HERE:
YouTube: https://youtube.com/pivotbosstv
Twitter: https://twitter.com/pivotboss