PivotBoss Pre-Market Video [November 06, 2023]: Super Narrow Ranges
NOVEMBER 06, 2023 — MONDAY AM
The ES, NQ, and YM are trading within super narrow ranges ahead of the RTH open, with the YM trading an astounding 13% of ADR. After last week’s high-range week, we could see range-bound action, especially early this week. Fed Chair Powell speaks Wednesday morning and Thursday afternoon, which could provide some late-week volatility. Look for expanding intraday ranges to develop in the ES, NQ, and YM, and avoid the chop in the middle. Crude Oil bears continue to control the trend, and a breakout from the narrow 4-5 day range could lead to a 6-7 point move. Gold remains range-bound.
FOMC Key Levels for NOV 01, 2023: ES 4230, NQ 14605.75, CL 81.06, GC 1986.7, RTY 1661.7, YM 33206, ZB 110’10, $DXY 106.976, 6B 1.2117, 6E 1.0553, BTC 34910, ETH 1829.5
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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