Author: PivotBoss

Today is the last day of the week, month, and quarter, and so far the markets are pointing lower. The expectation is for the markets to pull back early in October ahead of a late-month rally. Gold has broken through the 1190, and if bears keep 1195-1200 offered, much more downside could be seen. Crude Oil is coiling up, and could be headed for another big move higher. Here are the levels we’re watching in the PivotBoss Trading Room.

The FOMC key levels have been marked, and the ES is currently below yesterday’s level, which is an early sign of weakness. The key level to watch in the NQ is 7625…as a big move will likely occur away from this level. Here are the levels and candidates we focused on during the afternoon session of the PivotBoss Trading Room. And by the way, Swing Trade Pro 2.0 HAS OFFICIALLY LAUNCHED! Please visit http://pivotboss.com/swingtradepro2/ for details!

The ES is barely hanging on to the 2917-2920 zone of near-term support. Failure to maintain acceptance above this zone would suggests a return to recent support at 2865. The NQ appears poised for a major squeeze ahead if it can get above 7640, but the Inside Value relationship that has developed with the pivot range suggests a major breakout may be seen in October in either direction. Gold continues to compress ahead of Wednesday’s FOMC Meeting and Fed Interest Rate Decision, which will give us another FOMC Key Level soon. Here are the levels we’re watching in the PivotBoss Trading Room.

The ES appears poised for another squeeze higher, but needs to continue to hold above the 2920 key level. The NQ is building energy for a major breakout opportunity, as an Inside Value setup has developed heading into October. But which way will the breakout be? Bitcoin continues to hang on to the 6000 level…barely. And watch 71.80 intraday in Crude Oil. Here are the levels we’re watching in the PivotBoss Trading Room.