GOOGL Shakes the Tape — Will the Bulls Hold?
by Tony Rago
The FOMC announcement gave us a muted reaction and more range-bound trading, but GOOGL’s earnings miss has become the catalyst pushing the market lower. Now the focus shifts to how the cash session digests those numbers and whether sellers can build on the weakness. One thing to keep in mind: hyperscalers continue pouring money into AI models, so the bigger story around AI investment remains a major factor for the market to process. For the bulls, the priority is defending yesterday’s lows and the 9-day moving average to keep this pullback from gaining traction. On the other side, the bears need to push below 7,733 on ES and 29,333 on NQ to put more downside pressure into play.
Today has the potential to give us a more directional move, but we’ll let the opening range confirm that before making any assumptions. If buyers defend support and step back in, we could see the market stabilize after the earnings-driven weakness. If those key levels give way, sellers may have room to press further. Either way, trade the price action in front of you rather than getting caught up in the headlines. Stay patient, respect the levels, and let the market show its hand. 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
