JULY 22, 2024 — MONDAY AM
The ES and NQ are seeing early overnight and pre-market strength heading into the RTH open, which could lead to a bounce-back after last week’s selling pressure. If so, look to target wMID in the ES at 5631 and 20225 in the NQ. The YM is trading super flat at the moment, but also has a shot to bounce back, with a midpoint target at 41005. Crude Oil broke through 80 on Friday, which opens up 76 below. Gold continues to return to the middle of its large trading range at 2350. BTC and ETH remain bullish and are working toward the top-end of their respective trading ranges. It appears new ETH spot ETFs will begin trading Tuesday, Jul 22, which could trigger another bullish inflows cycle.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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