AUGUST 10, 2023 — THURSDAY AM
CPI and Initial Jobless Claims data has come and gone, and so far the market is showing early strength. If the markets open above yMID at the RTH open, we could see surprising strength. Overall, these market have developed narrow ranges on the 6-day basis, but even on a longer term basis – like the 17-day range in the YM. Breakouts could soon be seen. Intraday key ranges have been developed in the ES, NQ, and YM, which will be useful heading into the weekend. Crude Oil continues to trade above resistance, and could still see rejection.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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