JULY 06, 2023 — THURSDAY AM
The ES, NQ, and YM are seeing pre-market selling pressure ahead of the RTH after ADP and Initial Jobless Claims were released. Look for more near-term selling pressure ahead, but avoid buying the dip until (or unless) a significant rejection develops. Until then, the market could continue to seek a strong low. Watch 72.50 closely in Crude Oil, as a rejection could send prices back down. Gold bears have defended the bounce, and 1886 could be the next target below.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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