MAY 05, 2023 — FRIDAY AM
The ES, NQ, and YM have bounced heading into the RTH open after the release of NFP data, which came in better than expected. Look for these markets to stay mostly within their developing multi-week trading ranges heading into the weekend, with a shot at expansion next week. Crude Oil held on to its bullish rejection day, and could be headed toward the center of the large range at 76 ahead, with a shot at 80.50, as well. Gold has rejected last year’s high, and is pushing down within the developing range, but is not expected to breakout from its range of 1980 to 2080 yet.
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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