MAY 09, 2023 — TUESDAY AM
The ES, NQ, and YM are trading within narrow 2-day ranges ahead of Wednesday’s CPI data. We could see further range-bound action today heading into Wednesday’s market, with an upside bias as of right now. Watch yLO for early signs of rejection, which could lead to a return to yHI on an intraday basis. Gold may return to 1980 below, and the next pullback in Crude Oil could offer a buying opportunity for a continuation to 76 and 80.50.
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