SEPTEMBER 07, 2022 — WEDNESDAY AM
NOTE: I will host another Monthly Outlook today (Wed, Sep 7, 2022) at 4pm CT. Please join me for this free event, as we work through a ton of charts, including futures, stocks, and crypto. Please use the following link to join: https://us06web.zoom.us/j/83442446174
The ES and NQ remain on a path lower, and morning strength could be seen as a selling opportunity for bears during this time. The expectation is for further weakness toward the June FOMC key levels below. Crude Oil took out the 86 CLVN and major market structure edge in pre-market trading, and is beginning to show early signs of rejection. A rejection of this edge could lead to a bounce-back to 92, and perhaps 97s. BTC hit new lows for the year today, and could see further weakness ahead toward the 15k zone below. ETH is showing weakness as it approaching the major 1400 support zone.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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