JANUARY 30, 2025 — THURSDAY AM
The markets had a relatively modest response to the Fed Wednesday afternoon, which has fed into a low-range morning heading into to the RTH open for the ES, NQ, and YM. Sunday night’s open price continues to be resistance for the ES and NQ at this time, and a failure to hold Monday’s midpoint could open up another wave of weakness heading into next week. Crude Oil has wiped out the gains for the year and reached the 72 level, which is the key pivot to watch in the charts. Can Crude find a strong low and bounce off 72, or do we see a failure of 72 that opens up 66/67 below? Gold has pushed through 2800, which may finally open up our upside targets at 2900 and 3000.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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