Triangle Compression — Which Way Next?
by Tony Rago
Overnight inventory is neutral coming into the cash open, and price remains trapped inside a large triangle on the hourly charts while NQ continues chopping around the 200-day moving average. The question today is whether bulls can keep this rally intact and start pushing toward the upper end of the range. For buyers, ES needs to hold 7,600, with 7,588/7,577 serving as the line in the sand. NQ needs to defend 28,106 and 28,000. On the bear side, sellers will be looking to reject the 7,677/7,688 zone in ES and the 28,633/28,750 area in NQ. Those are the key areas that could help determine whether this rally has more room to run or whether sellers are ready to step back in.
The tape may be getting a little tired today, and we could see more range-bound action as this hourly triangle continues to develop. But don’t mistake consolidation for a lack of opportunity — volatility is still present, and headline risk can change the picture quickly. Keep your head on a swivel, stay patient, and let price show you which side is gaining control. No need to predict the breakout; be ready to respond when it comes. Let’s get after it!
👉 Full breakdown is inside today’s Pre-Market Playbook.
Check it out here and trade it smart.
Until next time,
Tony
