Bulls Need to Prove It
by Tony Rago
Coming into the open, inventory is leaning short, but the bigger story is that bulls have struggled to sustain any meaningful rallies this week. Buyers continue stepping in on pullbacks, yet every push higher has faded—especially on the NQ. That leaves the market vulnerable to a deeper retracement if buyers can’t start showing stronger follow-through. It’s an important reminder that defending support is only half the battle. Eventually, bulls need to turn those defenses into sustained momentum, or sellers will keep regaining control.
My focus today will be on yesterday’s lows in NQ as the opening bell approaches. Until the hourly trend flips back to bullish, I’m more interested in selling rallies than chasing strength. That said, this is no time to become married to a bias. Headline risk remains elevated, and with Netflix kicking off tech earnings today, the market could shift character quickly. Let the opening range develop, respect the price action, and stay flexible. The best traders adapt—they don’t predict.
👉 Full breakdown is inside today’s Pre-Market Playbook.
Check it out here and trade it smart.
Until next time,
Tony
