AUGUST 22, 2023 — TUESDAY AM
The NQ is leading the way higher this morning, as it has well beyond yHI in overnight and pre-market trading. The ES is also trading above yHI, which we’ll watch very closely for signs of failure. Rejection at yHI could trigger a bearish FNH for another swing move down within the downtrending structure. Staying above yHI opens the door to more upside toward 4500 in the days ahead. Crude Oil saw a bearish rejection in the previous session, and could be headed down to 79, and lower, ahead.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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