DECEMBER 02, 2022 — FRIDAY AM
The NFP report came in better than expected this morning, but the market sold off nonetheless, taking out yLO in the process. Continue to watch yLO, as a recovery could lead to a bullish outside reversal in the best case scenario for bulls. Although, the expectation of recovering yLO seems low as of right now. As such, look for continued weakness back toward the week’s lows. Crude Oil remains bullish, and on a path toward 85. Gold nearly got the 1820 to 1830 target zone, and may now be comfortably within the upper distribution of its market structure.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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