Grinding Higher Into a Decision Zone
by Tony Rago
We continue to grind higher here, with the market largely brushing off elevated crude and ongoing geopolitical tension — a signal in itself. ES looks like it wants a retest of 7,000, while NQ is eyeing that 26,000 level, both acting as psychological magnets after this steady push. That said, we’re getting stretched on both indices, and when price extends like this without meaningful pullback, risk starts to skew. Add in crude holding above $95, and it introduces a layer of pressure that markets aren’t fully pricing in — at least not yet.
This is where I lean cautious, even as the trend remains intact. Heading into earnings, especially with tech on deck, we could easily see some chop or consolidation as traders wait for catalysts. Being aggressive up here means chasing extension, and that’s where discipline matters most. I’ll be taking it slow, letting levels come into play rather than forcing trades. Strong markets can stay strong, but timing entries is everything when we’re this elevated. Let’s stay sharp and see how we close it out today 💪
👉 Full breakdown is inside today’s Pre-Market Playbook. Check it out here and trade it smart.
