Another Overnight Flush
by Tony Rago
Another big move lower unfolded overnight, which means we’re once again coming into a market where a large portion of the move has already happened before the opening bell. That makes patience even more important. On ES, bulls need to defend the 7,500–7,488 zone if they’re going to generate a meaningful retracement. If the weekly pivot and 7,500 both flip into resistance, the path opens for another leg down toward the overnight lows. The early reaction around those levels should tell us a lot about whether buyers still have enough conviction to stabilize the tape.
NQ continues to be the weaker index as money rotates out of the chip names, and that’s keeping additional pressure on tech. Bulls need to defend 29,000–28,912 to have any chance of building a recovery, while the halfway-back level around 29,250 could become an important resistance zone if buyers struggle to regain momentum. Be careful of failed rallies that quickly reverse. Yesterday gave us both a quality short and a sharp dip-buy opportunity, proving just how fast this market can change. Keep your head on a swivel, let the opening range develop, and trade the price action—not the emotions.
👉 Full breakdown is inside today’s Pre-Market Playbook.
Check it out here and trade it smart.
Until next time,
Tony
