DECEMBER 03, 2024 — TUESDAY AM
The ES is trading just 10 points of range ahead of the RTH open, which is a paltry 17% of ADR. The NQ is trading just 19% of ADR, and the YM is at 18%. The market may be in a holding pattern ahead of Fed Chair Powell speaking Wednesday, and with NFP on deck for Friday. Any intraday pullback could offer a buying opportunity for a modest continuation higher. Crude Oil could see one more drop ahead of a seasonal end-of-year rally. Bulls will look to defend between 66 and 67 for a shot at 70 and 72 by the end of the year, and 78.50 by March. BTC and ETH rallied a ton in November, and could now see a period of digestion, with an upward bias.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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