MAY 15, 2024 — WEDNESDAY AM
The pre-market release of CPI data triggered an instant rally in the markets today, with new highs following yesterday’s bullish outside days. Can the ES, NQ, and YM hold on to these morning gains, or will an end-of-day reversal develop? Overall, we could see a bit more upside to the tops of their respective trading ranges, but watch for signs of rejection that could turn the trend back into the larger ranges below. Crude Oil has developed a narrow 10-day range, which suggests a 6 to 8 point breakout move ahead. Gold remains sideways-to-up, while BTC is building energy for the next 10k breakout move.
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