MAY 10, 2023 — WEDNESDAY AM
The ES, NQ, and YM have seen a big wave of strength after the release of CPI data this morning. Outside days have already developed in the ES and NQ, and we could see a continuation higher toward stop run day targets with high-range days. The ES may see a 70 point day with a 4190 target. Keep an eye on these highs, however, as a failure to maintain gains could lead to a big rejection. Crude Oil remains on a path to 76 and higher, and Gold remains range-bound between 1980 and 2060.
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Author, Secrets of a Pivot Boss
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