PPI Holds — But Crude Changes the Game
by Tony Rago
PPI came in line with estimates, but price dropped hard, taking out the prior week’s lows with it. The move looks to be getting pushed by crude ripping into the $100s along with strength in the dollar. We’re coming into a big gap down, and bulls are definitely on their heels. A bounce can set up if ES can reclaim the prior week’s low at 7,618 and hold the NQ PWL at 28,927. Those are the levels I’ll be watching to see if buyers can stabilize things or if sellers continue to press.
We have to see how we open and go from there, but one thing is clear: with crude over $100, any rallies are likely to face resistance and get sold until that pressure eases. That doesn’t mean we can’t bounce — it means we need to see the tape prove it before getting too aggressive. Let the opening reaction give us the clues, respect the levels, and stay nimble. 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
