AUGUST 28, 2023 — MONDAY AM
The August downmove remains in full effect, as the ES, NQ, and YM continue to show signs of weakness heading into the rest of the month. Any pullback could still provide a selling opportunity for eager bears looking for new lows ahead. The ES could still see 4200, the NQ could reach for 13,500, and the YM still has 33,800 below, and bears will look to defend resistance, including wHI for a shot at these level. Crude Oil continues to battle 80.50, and Gold needs above 1950 for a nice 50-60 point squeeze.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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