Back From the Long Weekend
by Tony Rago
We opened with a gap down and then spent the session grinding right back toward 30,833 on NQ and 7,573 on ES. That kind of recovery tells you buyers are still willing to step in, but the real test begins now. My focus today is squarely on the weekly opens and weekly pivots. These are the levels that often determine whether a move has staying power or simply becomes another short-term reaction. Bulls need to defend any backtest of those areas and prove they can hold them as support. Bears, meanwhile, want to push price back below and turn those same levels into resistance.
The key is keeping things simple. If we lose the weekly opens, then the pre-market lows immediately come back into play as downside targets. If buyers continue defending those key reference points, the market has room to build higher from here. Coming off a three-day weekend, I have no interest in forcing action early. The best approach is to let the tape open, allow the market to establish a range, and see where value develops. Patience tends to pay in these environments, especially when the first move isn’t always the real move.
👉 Full breakdown is inside today’s Pre-Market Playbook.
Check it out here and trade it smart.
– Tony
