AUGUST 29, 2024 — THURSDAY AM
The ES has developed a well-defined 10-day compression, which could lead to a huge 350 to 400 point breakout move ahead. But will the market wait until after Monday’s Labor Day holiday for a breakout to occur? Likely so, which means we could see further range-bound movement within the developing range. The NQ appears to be developing a bullish flag pattern, and needs above 19,750 for a breakout move. The YM has developed an intraday key range with yday’s price range, so watch yHI closely for early directional conviction at the open. Crude Oil is range-bound between 74 and 75.50. BTC and ETH put in decently strong lows yesterday, and could see more upside toward 65k and 2800, respectively, over the next 1 to 5 sessions.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
PIVOTBOSS LINKS:
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