JUNE 22, 2023 — THURSDAY AM
The ES, NQ, and YM have continued to pullback in overnight and pre-market trading, and are now below yLO. Continue to watch for signs of rejection below yLO ahead, as a major reaction could lead to a return to yMID, and possible even an outside day in the most bullish scenario. However, if a rejection doesn’t develop, further weakness could be seen toward wLO in the ES and NQ. Crude Oil remains range-bound, with a downward bias. Gold is battling 1940. Fed Chair Powell is on deck again at 9am CT.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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