MAY 07, 2025 — WEDNESDAY AM
The markets are currently in a multi-day holding pattern ahead of this afternoon’s FOMC statement, rate decision, and press conference, which is likely to move the market in a meaningful way. Expect high-range price action in the last 2 hours of the day, which could feed into a move the rest of the week. The ES could see 130 to 150 points of range by the end of the session, and could see a breakout move of 300+ points over the next 3 to 5 days. The NQ and YM are also trading within narrow 5-day ranges, which could lead to major breakout moves ahead. Crude Oil needs above 60 to open up 64. Gold remains on a path to new all-time highs, but watch for signs of rejection of the April high. BTC and ETH are developing 11-day compressions, which could fuel the next 20k run in Bitcoin, and 500 point move in ETH.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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