JUNE 10, 2022 — FRIDAY AM
The ES and NQ saw tremendous downside expansion from the narrow multi-week trading ranges late yesterday afternoon, as the last hour of the day saw a major meltdown ahead of this morning CPI data. Upon the release of the CPI data, the markets immediate were hit with another round of selling pressure, as full-on expansion appears to be occurring. Look for further weakness toward mLO ahead. A major rejection on these lows could stop the bleeding, but this may be a long shot at this point. Crude Oil remains within the bullish uptrend, and BTC and ETH remain on critical support.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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