SEPTEMBER 04, 2024 — WEDNESDAY AM
The ES, NQ, and YM are seeing overnight and pre-market compression after Tuesday’s heavy selling pressure. Bears will be looking to sell into morning strength for another rotation downward, as these markets could be headed back toward last month’s midpoints. Crude Oil has broken below 72, which could open the door to 64 on a swing basis. Gold bulls will be looking to defend into weakness to begin the month for a swing move higher toward 2600. BTC and ETH remain weak, and could see another flash move lower before a potential Q4 rally develops.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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