MAY 01, 2024 — WEDNESDAY AM
The ES, NQ, and YM each sold off heavily in the previous session ahead of today’s FOMC statement and rate decision, which could become a lower high that leads to new lows ahead. Currently, the market is trading within narrow ranges ahead of the RTH open, and further compression could be seen heading into this afternoon’s Fed. We could see volatility this afternoon, and also Thursday and NFP Friday to close out the week. Crude Oil remains weak, as does Gold, and any early bounce this month could offer an opportunity to sell for new lows ahead.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
PIVOTBOSS LINKS:
Trading Room: https://pivotboss.echofin.com
PivotBoss: https://pivotboss.com/
PivotBoss Masters: https://pivotbossmasters.com/
Merchandise: https://pivotboss.com/merchandise
FOLLOW ME HERE:
YouTube: https://youtube.com/pivotbosstv
Twitter: https://twitter.com/pivotboss