Weekly Pivot in Focusby Tony Rago Price is poking above the weekly pivot pre-market on NQ and approaching that same key area on ES, making this one of the most important reference points heading into the open. Weekly pivots matter because they often act as major decision zones where institutions either accept price higher and continue trend — or reject it and rotate back the other way. Right behind that, I’ll also be watching the weekly opens closely. Those levels help frame the broader directional bias for the week ahead: bullish above, bearish below. When price is trading around these major reference areas, the reactions tend to tell you far more than predictions ever will. This is the kind of open where patience and observation matter more than speed. If buyers can gain acceptance above the weekly pivots and hold the weekly opens, momentum could build quickly into another trend

Heavy Tape Into Fridayby Tony Rago Some selling overnight off the all-time highs, and the tape definitely feels a bit heavier heading into the open. After such an aggressive run higher, this is the kind of action you’d expect to see if traders start taking profits or if buyers hesitate at these elevated levels. The real question now is how this dip gets handled during the RTH session. NQ bulls need to defend 29,106, while ES bulls need to continue holding the 7,400 area. Those levels are important because they help define whether this is simply rotation within a strong trend — or the beginning of a deeper pullback. What’s interesting is that bulls have consistently closed these weeks strong, even when the tape looked shaky intraday. That trend has rewarded patience and punished traders trying to force reversals too early. Today will be another good test of that dynamic.

Knocking on 7,500by Tony Rago ES is knocking on the door of the big 7,500 round number pre-market — an impressive move considering we’re nearly 100 points off yesterday morning’s lows. That kind of recovery tells you the underlying price action is still very strong to the upside, even after the volatility we’ve seen this week. NQ also continues to press higher and now looks poised to test 29,750 as long as buyers can defend 29,500 and hold above yesterday’s highs. Those prior highs become important this morning because they often act as either continuation triggers or resistance zones where sellers try to re-enter the tape. The key early read will come from how price reacts around those levels after the open. If buyers continue accepting above yesterday’s highs, momentum could accelerate again into fresh territory. But if sellers want a real shot at slowing this move down, they’ll need

Reversal Held — Now Comes the Real Testby Tony Rago Big reversal yesterday pushed NQ back above 29,250 and ES back through 7,412 after our first meaningful 2%+ pullback of this entire rally. That move was a perfect example of why we continue to respect the weekly pivot levels — NQ tagged the pivot, held cleanly, and reversed hard from there. Those areas matter because they often become inflection points where institutions defend trend or press for reversal. This morning though, PPI came in very hot pre-market, so we could be setting up for a much bumpier open as traders digest the inflation data and reassess risk. The key area I’m watching on NQ is the halfway-back level of yesterday’s rally at 29,106. Bulls need to defend that zone if they want to maintain momentum and keep the reversal intact. Bears, on the other hand, finally have an opportunity if

CPI Reaction — Bulls Face the Testby Tony Rago CPI came in a little hot this morning, but overall it was still largely in line with expectations — enough to create some overnight weakness without fully breaking the broader trend. Bulls are going to get tested at the open here, especially after such an extended move higher over the last few weeks. NQ still looks like it wants a proper test of the big 29K round number, but for that to happen, bears need to continue defending 29,312 as resistance. If that level holds, there’s room for price to rotate lower and finally probe some deeper support areas before buyers potentially step back in. This is where the opening range becomes critical. Early reactions around data releases can be emotional and noisy, so instead of forcing a bias, I’ll let the market open and show who actually has control. If

New Week, Same Fast Tapeby Tony Rago New week, new opportunities to make money — and we’re kicking things off with crude back over 97 pre-market, which could pressure things a bit early and lead to some pullback action at the open. I’ll be watching the weekly opens closely for clues, because losing those levels could open the door for a move back toward the big round numbers at 7,400 on ES and 29,000 on NQ. If sellers gain traction beneath the pre-market lows, that’s where deeper pullback setups can start to develop. So far though, tech continues to do the heavy lifting, and as usual, the chips remain the key group to watch for overall market direction. This is still a tape where patience and objectivity matter more than prediction. Strong trends can stay strong longer than most expect, but when momentum finally shifts, it tends to happen fast.

Payroll Push Into New Highsby Tony Rago More highs pre-market following the payroll numbers, and the momentum train keeps rolling. NQ is now staring right at the 29,000 magnet level — a major psychological area that feels within reach if buyers can keep pressure on through the RTH session. ES continues to hold strong as well, but I’ll be watching closely to see if we get a backtest of 7,400 near the open. That kind of retest can tell you a lot about conviction. If buyers defend it cleanly, it could confirm acceptance higher. If not, there’s still enough resistance up here for bears to make a stand, and they’ll need a move under 7,377 to start building downside momentum. It’s Friday, and bulls are trying to close out yet another monster week with fresh all-time highs on the board. That’s a powerful backdrop, but also one that can create

Price Leads, Everything Else Followsby Tony Rago More highs again, and now ES has officially printed 7,400 — another major milestone in a move that just refuses to slow down. At this point, new highs have become the norm almost daily, and the market continues to reward strength while punishing anyone trying to step in front of it. Everyone keeps waiting for the meaningful pullback, but the reality is we really haven’t seen one throughout this entire run. That’s important context, because extended doesn’t automatically mean reversal. As long as buyers continue to defend key levels, price remains in control. This kind of environment demands patience and discipline more than prediction. You don’t need to catch the exact top or bottom — you just need to find spots where risk is defined and manageable. Price is the only thing that matters right now, and fighting momentum simply because something “feels”