FEBRUARY 20, 2024 — TUESDAY AM
The ES, NQ, and YM are showing early weakness heading into the RTH open, with back-to-back days of selling pressure. However, the market remains within the highly bullish uptrending structure, and could see another buy-the-dip opportunity develop soon on a swing basis. Crude Oil continues to remain within the developing rounded bottom pattern, which has built up a ton of energy for a breakout down the road. Until then, further chop between 74 and 79 could be seen. Gold has return to the middle of the range at 2040 from the 2000 level. Above 2040 opens up a return to 2080 above, as this market remains within the 2000 to 2080 trading range.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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