NOVEMBER 30, 2023 — THURSDAY AM
The ES, NQ, and YM are each showing early pre-market strength after Wednesday’s intraday top. Will this morning pullback lead to another round of weakness ahead? Bears want to keep 4580 offered in the ES, and 16,100 offered in the NQ for further intraday weakness. The markets remain range-bound and highly bullish in the short term, but we are getting close to finding an edge, especially with 35,800 above in the YM. Crude Oil bears want to keep 80 offered, and Gold may be nearing a top, as it is now trading above 2060 and just shy of 4-year highs of 2080. Failure to hold 2060 may signal weakness ahead in Gold.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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