DECEMBER 11, 2023 — MONDAY AM
Equity futures took rollover gaps up Sunday evening, with the ES, NQ, and YM all gapping out of the recent narrow ranges they’ve developed. Narrow pre-market ranges have developed after the gaps, as today could be mostly digestive with an upward bias ahead of Tuesday’s CPI data and Wednesday’s FOMC rate decision. Tuesday thru Thursday could offer high-range days this week. Crude Oil remains bearish, but is trying to push higher off last year’s low. But can bulls find a strong low? Gold remains on a path toward 1950, but may see a bounce at 2000 first.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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