October’s Final Session — Bounces to Sell?
by Tony Rago
It’s the final trading day of October, and we’re setting up for what could be a volatile finish to the month. AMZN and INTC both reported after the bell yesterday, and the reaction was telling — both stocks sold off sharply on concerns surrounding AI spending, with INTC giving back its entire AI rally. That pressure could weigh heavily on NQ as we head into the session. We may see some rotation into more defensive S&P names, but I’m not convinced that will be enough to save the broader index futures. We’re also sitting right at a major gap on the weekly chart, which makes this an important area to watch. We could certainly see a bounce from here, but I’ll be paying close attention to whether sellers use that strength as an opportunity to step back in.
My primary focus today will be looking for bounces to sell rather than trying to force longs into a weak tape. That doesn’t mean we can’t get a meaningful reversal — if a clean long setup develops and price confirms it, we’ll take a look. But until then, I want to stay disciplined and respect the broader pressure. The final session of the month can bring some unusual flows and volatility, so don’t get caught chasing moves or trying to call the bottom. Protect your capital, let the setups come to you, and be careful out there today.
👉 Full breakdown is inside today’s Pre-Market Playbook.
Check it out here and trade it smart.
Until next time,
Tony
