JULY 13, 2023 — THURSDAY AM
The ES and NQ are trading at new highs after completing a bullish outside week, and could remain bullish in the near term until rejection is seen. A failure to stay above 4500 in the ES could suggest a retracement ahead. Watch 15,500 in the NQ for early signs of failure. The YM has made it to the top of its trading range, and may begin a rotation back down within the range – but a rejection must first be seen. Crude Oil bulls need to keep prices above 75, or a failure begins back down within the range. Gold has squeezed back through 1950, which opens up 2000 if bulls can keep 1940 bid on a retest.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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