Waiting for Leadership
by Tony Rago
NQ struggled to hold above the 30,000 round number yesterday and ultimately closed back below it, while ES managed to test 7,600 before backing off into the close. Right now, ES is showing a little more relative strength than NQ, and that’s something worth paying attention to. Ideally, you’d like to see both indexes moving in sync. When one is leading and the other is lagging, it can create a choppier tape and make directional conviction harder to find. Today’s focus is on seeing which side steps up and whether that leadership starts to align.
With no major economic reports on the calendar, the market should have the opportunity to trade on its own technicals. That doesn’t change the game plan. I’ll still be waiting for the first 15–30 minutes to play out before looking for opportunities. Let the opening range establish itself, identify where the clean levels are developing, and avoid forcing trades in the early noise. The best setups often come after the market has shown its hand, not before. Stay patient, trust your process, and let price do the talking.
👉 Full breakdown is inside today’s Pre-Market Playbook.
Check it out here and trade it smart.
Until next time,
Tony
