MAY 19, 2023 — FRIDAY AM
The ES, NQ, and YM closed Thursday’s trading on highs, as the ES and NQ have seen their highest levels over the last year. The next pullback could open up a buying opportunity to new highs ahead. But first, all eyes on Fed Chair Powell, who speaks at 10am CT and could bring volatility to the market. A high-range day for the YM could mean 400 points or more today. Crude Oil remains bullish, with a shot to see 74 above. Gold reached our downside targets, and is now struggling to find a strong low.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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