AUGUST 30, 2023 — WEDNESDAY AM
The ES, NQ, and YM finished Tuesday with a highly bullish trend day, as each closed near the highs of the day. Will today be a fade after trend day? That is, will the markets reject yHI/yCL for a return to yMID below? With GDP on deck later this morning, we could see volatility pick up early today, with the possibility of bearish MGR signals if the market begins to sell off. Crude Oil has shaken off weakness, but bulls still need above 82. Gold got the squeeze through 1950, and the next pullback could offer a move toward 2000 above.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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