Bullish Sentiment Meets a Big Test
by Tony Rago
Yesterday’s market saw a big save on the peace headlines, and sentiment is clearly leaning bullish heading into today. Adding fuel to the excitement is the highly anticipated SpaceX IPO, which has traders paying close attention to risk appetite across the board. The question now is whether sentiment can translate into sustained buying pressure once the market opens. For the bulls, the key levels are very clear. NQ needs to defend the weekly pivot at 29,472, yesterday’s close at 29,452, and most importantly the 29,250 area. That’s the line where buyers need to continue showing up. Lose that zone, and the door opens for a deeper retracement.
ES has a similar roadmap. Bulls need to keep defending the 7,400 round number, with 7,377 serving as the line in the sand. Above those levels, the trend remains intact and buyers stay in control. Below them, sellers could finally start gaining traction. With it being Friday and one of the most anticipated market events on traders’ radar, there’s no reason to overcomplicate things. Focus on the key levels, let the opening range provide the first clues, and trade what price confirms. The market will tell us quickly whether this bullish sentiment has real staying power.
👉 Full breakdown is inside today’s Pre-Market Playbook.
Check it out here and trade it smart.
– Tony
