Frank Ochoa, AKA PivotBoss, is an 18-year trading veteran and author of the book Secrets of a PivotBoss. Frank actively trades via Ochoa Capital Management, LLC and has spent 15 years developing and deploying automated trading systems for private and institutional clients, while establishing an impressive reputation as a reliable market forecaster and as an elite educator.
Gold rallied BIG Thursday, as it seems the market began to move money out of stocks and into safety. On the second trading day of the month, I called for Gold to rally big into the end of the month. Halfway through the month, Gold is already within a handful of points of reaching the bottom end of my target range, which shows how truly strong that Gold move was yesterday.
The market continues to remain bullish, with each pullback leading to a high-probability buying opportunity, as was the case during Tuesday’s market. The main level that I’ll be focusing on today is 3140 in the NQ, the E-Mini NASDAQ 100 futures contract.
Thank you for the amazing feedback I’ve received for my daily commentary and analysis! I have to admit, I’ve been very impressed with how the market has responded to my levels during summer trading…and I can’t wait to see how much bigger the moves will get once the volatility returns!
The market continues to trade near the overall highs of the year, which continues to show how impressively bullish this market has been. My focus remains to buy pullbacks within the corresponding bull trends of each of the markets I follow. The NASDAQ remains a major index to follow, as its tightly-coiled range suggests a major breakout move could be around the corner.