MAY 07, 2024 — TUESDAY AM
The ES, NQ, and YM continue to show short term strength, as this market has been resilient in shaking off recent weakness. These markets appear to be working higher toward their respective March FOMC key levels above. Bulls will look to buy the morning dip for a shot at continuing this short term squeeze, but volatility may remain low. The YM could see a deep shakeout, but any FNL could offer a buying opportunity. Crude Oil and Gold remain within narrow ranges, with potential breakouts on the horizon.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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