Rangebound — Bulls Need to Break Out
by Tony Rago
CPI came in inline with estimates, and price is still hanging inside the same range we’ve been living in since last week. Today, I’m focused on where price is relative to the weekly opens: 7,777 on ES and 29,851 on NQ. If the bulls can hold those levels from above, we have a shot at breaking out to new weekly highs. Until then, we’re still dealing with a market that’s waiting for its next catalyst.
As always, I’m going to let the market open and see where the opening ranges land before making any big assumptions. The key is watching whether buyers can defend those weekly opens and build from there, or if sellers finally push price back into the range. No need to force the breakout—let price prove it. Let’s see how we open and go from there. Let’s get after it! 💪
👉 Full breakdown is inside today’s Pre-Market Playbook.
Check it out here and trade it smart.
Until next time,
Tony
