Employment Number Shakes the Tape — Now What?
by Tony Rago
The tape didn’t like the employment number — and the immediate reaction brought the fear of a rate hike back into focus. I’m really not expecting a whole lot today as we head into the long weekend, but we could see some retracement of yesterday’s rally if that reaction carries through. For any real follow-through to the downside, I want to see NQ get under 29,412 and ES break below 7,717/7,712. Until then, we’re still dealing with a market that may be more about positioning than conviction.
So let’s not force anything. The long weekend can make for a choppy tape, and the reaction around those levels should tell us whether sellers actually have something going or if this is simply some profit-taking after yesterday’s move. Let’s see how we open and go from there. The goal is simple: stay patient, trade what we see, and finish the week strong! 💪
👉 Full breakdown is inside today’s Pre-Market Playbook.
Check it out here and trade it smart.
Until next time,
Tony
