JANUARY 17, 2025 — FRIDAY AM
NOTE: The market will be closed Monday, Jan 20, in observance of Martin Luther King, Jr Day. We will be back to our normal schedule Tuesday, Jan 21.
The ES, NQ, and YM each traded within relatively narrow ranges Thursday, which could develop into 2-day ranges ahead of the holiday-extended weekend. Watch yHI for signs of early rejection, which could lead prices back within the previous session’s range, and keep the 2-day ranges intact. Crude Oil saw a pullback day Thursday, which could offer a near-term buying opportunity for strength today, and perhaps a swing opportunity for a continuation toward the 81.50 target. Gold needs above mHI to extend the breakout attempt. BTC and ETH are showing early strength, and could see a further upside continuation toward 109k and 3600, respectively.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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