FEBRUARY 23, 2024 — FRIDAY AM
The ES, NQ, and YM had huge trending moves in the previous session, which could lead to a compression day after expansion. Each of these markets are only trading 20% of average range heading into the RTH open, and could continue to see mostly sideways action, with an upward bias. Overall, a 5-7 day continuation higher could be seen in the week ahead, as these market stretch for new highs. Crude Oil continues to build out within its developing 10-day range, which is building energy for an 8-point breakout move ahead. Gold is showing an early FNL, with a shot to rally to 2045 intraday.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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