PPI Jolt — Range Still Rules
by Tony Rago
PPI hit this morning and the market didn’t love it — futures backed off and we’re setting up for what could be a bumpy open. ES 6850 and NQ 24,750 are the key spots on my radar. Those are the near-term lines where order flow should tell the story early. I’m also watching yesterday’s lows closely. We’ve tested prior-day lows the last couple sessions, held them, and then ripped — that pattern matters. When prior lows keep holding, it signals responsive buyers are active. But zoom out and it’s clear: this is still a massive range-bound tape. We’re rotating, not trending.
That means patience wins. Let the open breathe and see where structure forms instead of forcing a read in the first 15 minutes. It’s Friday and the last trading day of the month — flows can get exaggerated and volatility can spike fast. No big bets, no chasing hyper vol. If we’re going to get continuation, levels need to hold and confirm. Otherwise, it’s just more range chop designed to frustrate both sides. Stay tactical and protect the P&L 💪
👉 Full breakdown is inside today’s Pre-Market Playbook. Check it out here and trade it smart.
