DECEMBER 12, 2023 — TUESDAY AM
The ES, NQ, and YM are awaiting CPI data, which is released 1 hour prior to the RTH open today. CPI data could bring about a high-range day today, with the potential for an outside day down early. The markets remain extremely bullish, but are now bumping up against previous year’s highs, which could lead to a rejection at some point. Until then, bears must be patient until a strong rejection occurs. Crude still needs a strong low, and Gold continues on its path to 1950.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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