Bears Have the Ball—But Friday Changes the Game
by Tony Rago
Bulls gave up the fight yesterday and we printed new weekly lows, putting the bears firmly in control coming into today’s session. That said, I still believe the bigger catalyst for this tape is the upcoming FOMC, and trends rarely reverse on a Friday. INTC reported after the bell and absolutely crushed it, so the bulls may get a little help from that strength as we head into the open. The bears have the advantage for now, but they need to finish the job and push toward 28,250 and ultimately 28,106 on NQ. If buyers can absorb the weakness and reclaim some key levels, we could see the pressure ease.
The other possibility is that we simply settle into a range, which wouldn’t surprise me at all on a summer Friday. After the volatility we’ve seen this week, traders may be happy to let things cool off heading into the weekend. My plan is to let the market open, see how the opening ranges develop, and then go with the side that proves it has the ball. Don’t force a trade just because it’s Friday—stay patient, manage your risk, and let price tell the story.
👉 Full breakdown is inside today’s Pre-Market Playbook.
Check it out here and trade it smart.
Until next time,
Tony
