JULY 11, 2023 — TUESDAY AM
The ES, NQ, YM each managed to reject wLO, which opens up the potential for a move into wMID and wHI by the end of the week. The YM rejected its trading range edge at 33800, which opens up a 800 to 1000-point potential rally ahead from these lows. Overall, we could see sideways-to-up action ahead of Wednesday’s pre-market inflation data. A major test may be ahead for Crude Oil at 75, and will Gold bears be able to keep 1950 offered?
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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