DECEMBER 06, 2024 — FRIDAY AM
The ES, NQ, and YM each rallied after the release of the pre-market NFP data, which came in better than expected. The market is still relatively quiet overall, however, and is developing 2-day narrow ranges, with an upward bias. We could continue to see a melt up phase ahead, but any pullback could also offer a buying opportunity. Crude Oil is showing weakness and is approaching the 67 support level. Any drop through this level could provide a late-day buying opportunity that carries over into March of 2025. Gold and the YM have developed 8-day compressions, with big time breakout potential. BTC hit 105k, while ETH hit our 4000 target. Can ETH get to 4600 next?
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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