AUGUST 05, 2022 — FRIDAY AM
MONTHLY OUTLOOK RECORDING: Thank you for joining me for our Monthly Outlook! If you missed it, you can click the recording link to watch it here: https://www.youtube.com/watch?v=I3yLXgnd1Mc
The ES and NQ are seeing quite a bit of selling pressure after the release of the NFP report prior to the RTH open. The jobs number came in twice as big as expected, which trigger immediate selling pressure. The ES still has a developing 6-day narrow range, which could finally trigger expansion soon. Crude Oil is now trading in the 87s, and still has the 85 targets below. BTC and ETH have developed narrow ranges after recent moves higher. These ranges could trigger expansion events soon.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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