MAY 17, 2023 — WEDNESDAY AM
The ES remains range-bound, and is moving higher within the developing 8-day range. Eventually, a breakout move will come…until then, look to fade the edges within the range. The NQ remains strong, and the YM could see a squeeze day ahead. yMID will be key for the YM. Crude Oil has seen a strong rejection of yLO at 70 and is working through yMID, which opens up yHI for a bullish outside day ahead. Gold has nearly reached the 1980 edge, but found the key range low.
Frank Ochoa
Author, Secrets of a Pivot Boss
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