OCTOBER 03, 2023 — TUESDAY AM
The ES, NQ, and YM are each making a move to the previous quarter’s lows, which could provide an early trap and reverse opportunity this quarter. But first, the markets must flush to take out those lows. Given overnight selling pressure, bears will be looking to sell into pullbacks, as price approaches wLO below for the NQ and ES. Crude Oil has taken out 88 below after topping out at 95 last week. Watch for rejection below 88s for a reversal back up within the developing expanding range. Gold reached our 1830 target after selling off away from the 1950 apex. Gold bulls need to keep 1800 bid for a reversal back to 1925 above.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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