Heavy Tape Into Friday
by 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. If buyers step in and reclaim momentum quickly, the broader uptrend stays intact. If sellers start building acceptance lower, we could finally see some more meaningful downside rotation develop. Either way, the plan stays the same — stay patient, stay objective, and let the opening range reveal where the real pressure is.
👉 Full breakdown is inside today’s Pre-Market Playbook. Check it out here and trade it smart.
– Tony
