FEBRUARY 16, 2023 — THURSDAY AM
The ES, NQ, and YM are selling off prior to the RTH open after a higher-than-expected PPI, and hawkish comments by FOMC Member Mester. The ES has gone outside day already, but will selling pressure persist, or will we see price remain within the already established multi-day ranges? Watch yLO closely for early signs of failure/rejection. Crude Oil remains on a path toward 82-83, and Gold continues its downward price discovery phase.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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