SEPTEMBER 26, 2024 — THURSDAY AM
The ES, NQ, and YM have seen intense overnight strength heading into the RTH open, but have held at highs for the last six hours ahead of Fed Chair Powell speaking. Will the market be able to maintain these overnight gains, or do we begin to see a loss of altitude ahead? A return to 5800 below in the ES could begin to mark a potential rejection day in development. Keep in mind, the short term trend remains highly bullish, so be careful if looking to fade into this strength. Gold remains highly bullish and has reached our targets for the month. Is this a sign of a defensive play ahead of broader market weakness ahead? BTC and ETH are building within narrow ranges, with the potential for upside expansion ahead over the next week of trading.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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