OCTOBER 31, 2024 — THURSDAY AM
For the second straight week, the ES has hit the 5801 level, which has been key support. Failure to hold this level opens up a return back into lower market structure, with targets at 5600 and 5400. Bulls need above 5820 to begin working back toward the overnight highs. NQ bulls need through 20,400, and YM bulls need through 42,200 for a return toward overnight highs. Gold remains highly bullish, and any pullback to begin November could offer another buy-the-dip opportunity for a continuation to 2850 and beyond. BTC could be headed to 92k and above, and ETH still needs through 2800 to open up 3400 ahead.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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