DECEMBER 11, 2024 — WEDNESDAY AM
The markets are seeing a bullish bump after CPI and Core CPI data was released this morning, with the ES, NQ, and YM each rallying during the 7am CT hour. However, will morning weakness be defended by bears for another rotation down later in the day? The YM remains within a clear short term downtrend, and has seen late-day selling pressure each of the last four sessions. While near-term weakness may still be ahead, any pullback could offer a swing buying opportunity for a strong finish for the month. Crude Oil continues to bounce off the 67 level, but may find resistance soon. Gold remains strong, and on path to mHI at 2772. BTC and ETH remains bullish overall, and could be building energy for the next move to come.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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