A Tale of Two Markets
by Tony Rago
The overnight session was relatively quiet, but there’s an important divergence developing. ES is holding above its weekly open, while NQ continues to trade below its own. That leaves us with a market that’s slightly out of sync, with ES attempting to lead and NQ still lagging behind. For the bulls, the objective is clear: NQ needs to reclaim yesterday’s close and make a run back toward the 30,000 round number. A sustained move above that level would put the breakout back in play and could help bring the two indexes back into alignment.
With it being Friday, there’s also a chance we see a quieter tape as traders square positions heading into the weekend. That doesn’t mean there won’t be opportunities—it just means discipline becomes even more important. Stick to your plan, avoid forcing trades if the market isn’t cooperating, and let the opening range establish itself before committing. If the market gives you a clean setup, take it. If not, protecting your capital is a winning trade too. Get the day done and head into the weekend with confidence.
👉 Full breakdown is inside today’s Pre-Market Playbook.
Check it out here and trade it smart.
Until next time,
Tony
