FEBRUARY 09, 2024 — FRIDAY AM
The ES, NQ, and YM had mostly sideways days in the previous session, with the ES and NQ finishing the day within super narrow ranges. Overall, these markets continue to remain within super bullish trends, with the volatility dropping dramatically over recent weeks. Further strength is likely, until proven otherwise, as the YM continues to build energy for a move to 40k. Crude Oil had a tremendous trend day Thursday, which may lead to a mostly digestive trading day Friday, with lower range price action, as the market digests recent strength. Crude May be headed to 81.40 by the end of the month, as a 10-point month is in play. Gold continues to chop near the center of its range, but is building for a big wave of movement to come.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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