OCTOBER 23, 2024 — WEDNESDAY AM
The ES, NQ, and YM continue to trade near their respective highs within the boundaries of developing multi-day trading ranges. The compression in the ES is now 8 days long, while the NQ is working on an 11-day compression. Look for further development of these ranges ahead of the next breakout opportunity ahead. Watch yLO early today for the ES, NQ, and YM, as this could provide a fading opportunity for a modest return back within the compressions. Gold remains highly bullish, and the next pullback could offer another buy-the-dip opportunity. Bitcoin has developed a new super large key range, which points to an upside target at 92,200 down the road. ETH is still stuck within the 2200 to 2800 range, and needs above 2800 to open up 3400 down the road.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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