MAY 03, 2023 — WEDNESDAY AM
MONTHLY OUTLOOK: Please join me for our PivotBoss Monthly Outlook for May 2023! We will cover all the major futures markets, and will also discuss trade opportunities for stocks, futures, and more! This is a FREE event that will begin at 4pm CT Wednesday, May 3. Please use the following Zoom link to join: https://us06web.zoom.us/j/86459726713
The ES, NQ, and YM are trading within narrow ranges ahead of the RTH open, with each trading around 30% of ADR ahead of this afternoon’s FOMC Statement and Rate Decision. We’ll get newly-minted FOMC key levels later today, and a likely increase of volatility over the next few weeks. Until then, look for range-bound action, as the market awaits the afternoon. Crude Oil has already pushed through the 70 level, and could target fresh lows ahead. Gold may ultimately squeeze to new highs behind potential weakness of the equity markets.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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