SEPTEMBER 09, 2024 — MONDAY AM
The ES, NQ, YM, BTC, and ETH have all seen overnight and pre-market strength, which has returned prices back to Friday’s midpoints. Watch yMID closely in each of these markets, as acceptance beyond these levels could extend gains into RTH trading. Failure to establish acceptance could begin to leave behind bearish tails and turn the markets back toward the overnight lows. Overall, these markets will likely develop holding patterns ahead of big inflation data this week, including CPI on Wednesday and PPI on Thursday, which could lead to late-week volatility. Gold remains range-bound, with an upward bias, and Crude Oil is testing a major key range low.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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