The ES and NQ are holding within two-day ranges after Tuesday’s rally. Watch the boundaries of these ranges for potential expansion ahead, but look to fade the extremes of the range until acceptance outside the range is seen. Crude Oil appears headed for another round of selling ahead, especially if the bulls cannot reclaim 81.57.
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Hang out with PivotBoss as he provides his outlook for the futures market for the month of October! We’ll cover the E-Mini S&P 500, E-Mini NASDAQ 100, Crude Oil, and Gold!
Bears defended the 95 LVN with guns blazing and pushed price through CVPOC at 92.88, triggering sell stops into the 91.16 volume ledge, where bulls are attempting to defend and push price back to value at 92.88.
Bears defended the 93.30 resistance level for two days, causing buy stops to build above it. The bulls ran these stops, using them as fuel to reach the upside expansion targets, which were derived from the pre-mkt range.
