MAY 04, 2023 — THURSDAY AM
We are now post-FOMC with newly-minted FOMC key levels. The initial response has been lower for the ES, NQ, and YM, with big tests at mLO ahead. Failure at these levels could open up an expansion phase ahead from these narrow multi-week ranges. Crude Oil has developed a strong rejection at new lows for the year, which could lead to a bounce-back toward 76-77 above. Has Gold developed a strong rejection at last year’s high?
MONTHLY OUTLOOK: In the May 2023 edition of the PivotBoss Monthly Outlook we take a look at the developing weekly charts of the major market indexes, including the ES, NQ, and YM, which could be developing highly bearish patterns. We also talk Crude Oil, Gold, and the potential 10k move ahead for Bitcoin. We also cover several opportunities in stocks and ETFs, including $GOOGL, $UBER, $ADBE, $EIX, $TRIP, $FBIN, $KRE, $XLK, and $ROST. Recording Link: https://www.youtube.com/watch?v=InOJd750_gY
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