NOVEMBER 14, 2024 — THURSDAY AM
The ES and NQ have developed 5-day compressions, while the YM is working on a 6-day compression ahead of this afternoon’s Fed Chair Powell talk. The market is clearly in a holding pattern, and could remain within this range a while longer. As such, look to fade the edges until proven otherwise, and look to fade yHI and yLO back to the center of the intraday range. Eventually, a breakout from these ranges could trigger nice expansion. Crude Oil continues to bounce off clear support at 67, and remains within a trading range from 72.40 to 67. Gold continues on a downward path, and is still looking for a strong low. BTC and ETH have seen immense strength lately, but will they develop new key ranges? If so, major upside targets could be reached at 121k and 4300, respectively.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
PIVOTBOSS LINKS:
Trading Room: https://whop.com/pivotbosstrading/
PivotBoss: https://pivotboss.com/
PivotBoss Masters: https://pivotbossmasters.com/
Merchandise: https://pivotboss.com/merchandise
FOLLOW ME HERE:
YouTube: https://youtube.com/pivotbosstv
Twitter: https://twitter.com/pivotboss