OCTOBER 29, 2024 — TUESDAY AM
The ES, NQ, and YM are trading within narrow ranges ahead of the RTH open, and continue to be trapped within multi-week compressions, as well, as the market awaits big tech earnings this week and election results next week. Look to avoid the intraday chop, and fade the edges when appropriate. Crude Oil is bouncing today, but remains a swing selling opportunity on strength until proven otherwise. Gold bulls will look to buy-the-dip early November for a continuation to 2800. BTC closed above 70k for the first time since June, and is now trading north of 72k. Can prices continue to hold above 70k? If so, we may see an approach to new all-time highs at 80k ahead. ETH is up nearly 5%, but needs above 2800 to open up serious strength ahead.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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