The ES and NQ pulled back in overnight trading, with each dipping into their respective pivot ranges. While we may see more near term weakness, these pullbacks may be great buying opportunities for moves into the end of the month. Watch Crude Oil above 76, as weakness above this level may signal a short term pullback today. Don’t get whipsawed in Gold, and beware if you are in Bitcoin.
The ES continues to show signs of strength, but while the NQ is up in pre-market trading, it is testing a key zone between 6980 and 7000 that bears may try to keep offered for a shot at a bigger retracement ahead. Watch this zone closely. Crude Oil may be on the verge of a retracement if 75 can’t hold, and Bitcoin may be ready to move soon. Here are the levels we’re watching in the PivotBoss Trading Room.
The ES, NQ, and YM have each pulled back modestly, but appear poised for another round of strength. While more of a pullback may be seen this week, the medium term idea is to buy the dip once rejection has occurred. Keep an eye on Gold, as it is currently showing signs of rejection at a key pivot in the chart. Here are the levels we’re watching in the PivotBoss Trading Room.
Oct 01, 2018 — MONDAY PM: After the recent rally in the ES and NQ, are the markets ready for a pullback to begin October? The NQ is showing initial signs of rejection at the previous month’s high, which could fuel a countertrend pullback in the first week of October. However, any pullback is still likely buying opportunity until proven otherwise. Gold is on the verge of a major breakout move, and so is Bitcoin. Here are the levels and candidates we focused on during the Monthly Outlook for September 2018.
WEBINAR: Please join me Monday afternoon (Oct 01, 2018) at 3:30pm CT for our Monthly Market Outlook webinar for the month of October! Join link: https://join.me/pivotboss.
The ES and NQ are higher to begin October, but are trading near the previous month’s key levels, which introduces the possibility of early rejection. Crude Oil is in the same boat as the ES and NQ, but Gold and Bitcoin could be on the verge of big moves. Here are the levels we’re watching in the PivotBoss Trading Room.
