Weekly Pivot Still in Play
by Tony Rago
Yesterday’s bounce was respectable, but both ES and NQ still closed below their weekly pivots, giving bears a slight advantage coming into the open. That keeps the burden of proof on the buyers today. For sellers to maintain control, they need to keep price pinned below 7,462 on ES and 29,750 on NQ while pressing the market back toward the overnight lows. Those levels become the line in the sand early, and how price reacts around them should tell us a lot about who’s actually in charge. Closing below a weekly pivot doesn’t guarantee lower prices, but it does shift the short-term odds until buyers can reclaim those areas.
On the flip side, if bulls can regain those levels, the roadmap becomes pretty straightforward. NQ would likely set its sights back on the big 30K test, while ES could make another run toward 7,500. If sellers gain traction and we break below the pre-market lows, then Friday’s lows become a natural downside target. The key today is keeping things simple. The levels are clear, the scenarios are defined, and there’s no need to overcomplicate the trade. Let the opening range develop, follow the evidence, and get the day done.
👉 Full breakdown is inside today’s Pre-Market Playbook.
Check it out here and trade it smart.
– Tony
