At the Weekly Gaps — Will Buyers Step In?
by Tony Rago
Price came all the way down into those weekly gaps from May, putting buyers at an important decision point. Will they finally step in here? ES also gave the 200-day moving average a full test, so I’ll be watching for a potential snapback bounce. But I’m not going to guess when or where that happens — the market needs to prove itself first. For a bounce to gain traction, we need to reclaim the pre-market highs and the EM highs. On the flip side, a bear continuation would come into play below the pre-market lows and the EM low. Those are the lines in the sand, and how price reacts around them should tell us a lot.
Keep it simple and manage your risk. This is not a market for the risk-averse trader, and there’s absolutely no shame in sitting it out if the conditions are beyond your skill set. Protecting your capital is part of trading, too. There will be plenty of great trading days ahead, so don’t feel pressured to force something in a difficult tape. Let the market confirm the setup, respect your levels, and stay disciplined. 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
