Post-FED Tape — Bulls Have the Ball
by Tony Rago
Post-FED tape today and we’ve got a big move in the overnight session, with everything looking to gap up here. This has been a recurring theme over the last several weeks: big moves overnight followed by more muted ranges during the regular session. Bulls need to keep the ball today and defend pullbacks into the key levels — specifically, they need to stay above yesterday’s highs and the weekly opens. If those levels hold, buyers can continue to press, but if they start giving them back, we’ll want to see how the tape reacts before assuming the overnight strength will carry through.
Overnight inventory is very long, so the opening reaction will be important. We’ve already traveled a lot before the regular session even begins, which means there’s no need to chase the move. Let’s see how we open, watch those key levels, and go from there. The market will tell us whether buyers can maintain control or if some of that overnight positioning needs to unwind. Stay patient, trade what’s in front of you, and let the tape show us the next move. 💪
👉 Full breakdown is inside today’s Pre-Market Playbook.
Check it out here and trade it smart.
Until next time,
Tony
