JUNE 06, 2022 — MONDAY AM
MARKET OUTLOOK RECORDING: In the June edition of the Monthly Outlook, we discuss ideas for the month ahead, including for futures and stocks. If the NFP report is received well Friday morning, we could see an early buy-the-dip opportunity that could last 1 to 2 weeks. We talk ES, YM, NQ, CL, BTC, ETH, and more! LINK: https://www.youtube.com/watch?v=CSqv2VnrXUo
The ES and NQ continue to build out the narrow developing 6- and 5-day ranges, respectively. The ES is currently forecasting a breakout move of about 355 points, while the NQ has a forecast of about 1200 points once expansion is ready to occur. Until then, expect further range-bound action. Look for Crude Oil bulls to attempt to keep 118 bid for a shot at finishing the day positive. The ability to hold 118 goes a long way toward helping price get to the next upside targets between 126 and 130 later this week. BTC and ETH continue to barely hang on to support at 28k and 1700, respectively, and further range-bound action is likely to occur until the next major wave of expansion occurs.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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