NOVEMBER 13, 2024 — WEDNESDAY AM
The ES, NQ, and YM are still maintaining gains after last week’s range, and have developed narrow 4- and 5-day compressions since then. We could see further development of these narrow ranges ahead, but an expansion opportunity could present itself soon enough. CPI data has been released today, which has led to early strength. Watch yHI for a test, which could provide a short term fade opportunity. Crude Oil remains on a path lower, with 66 and 64 below. Any test into 64 could provide a huge buying opportunity. Gold continues to drop, and needs a strong low before it can bounce. Any pullback in BTC and ETH could continue to be a buying opportunity.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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Frank, I haven’t had access to my account since echofin ended. I’m still being charged. Please advise. Scott