Weakness Continues — First Day of September
by Tony Rago
Weakness in the overnight session — basically the move we wanted yesterday in the cash session. ES is under 7,662, which was a big support level over the last 10 days. Bulls need to reclaim that and get back to 7,700, while bears want to seal it off as resistance and push toward 7,633. On NQ, bulls need to defend 29,106 and 29,000. Bears just need to keep selling the pops and walking price lower, while a breakout for NQ comes above 29,412.
Let’s see how we open and where the opening ranges land. This is the first trading day of September, so I’m going to be patient and let the tape show us what it wants to do. We had the weakness overnight, but the real question is whether sellers can sustain it once RTH opens or if buyers finally step in at these key levels. Trade what we see and adjust from there.
👉 Full breakdown is inside today’s Pre-Market Playbook.
Check it out here and trade it smart.
Until next time,
Tony
