JUNE 21, 2023 — WEDNESDAY AM
The ES, NQ, and YM are trading within super narrow trading ranges ahead of the RTH open and ahead of today’s testimony by Fed Chair Powell. Powell will testify each of the next two days at 9am CT, which could lead to windows of increased volatility. Bulls will still be looking to defend into weakness, especially if strong lows develop on these pullbacks. Crude Oil may see another big test of support at 67 ahead, and Gold is sitting right on the 1940 edge, which could give way soon.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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