The Rally Is Gone — Will Bulls Defend the Line?
by Tony Rago
The market has retraced the entire rally from Tuesday as META and TSLA earnings weigh on sentiment, bringing us right back to a critical area where bulls need to make a stand. On NQ, the key zone is 29,412/29,333, while ES needs to hold 7,700/7,688. These are important levels for buyers to defend if they want to stabilize the tape and prevent this pullback from turning into something more aggressive. We’re already down more than 1% pre-market, so volatility is likely to be elevated. If those support zones give way, the downside could get slippery in a hurry.
Today is about staying nimble, managing risk, and letting the market show us where buyers are willing to step in. Can the bulls defend this area again, or are we looking at another leg lower? We don’t need to answer that before the open. Let the opening range develop, find your handles, and wait for price to confirm the setup before committing. On a day like this, protecting capital matters just as much as finding opportunity. Be careful out there, stay disciplined, and let’s see how we open.
👉 Full breakdown is inside today’s Pre-Market Playbook.
Check it out here and trade it smart.
Until next time,
Tony
