FED Day — Less Is More
by Tony Rago
FED Day is here, and there’s a lot on the table. Between a new Fed Chair taking center stage and June futures contract expiration, traders should expect elevated volatility and the potential for sharp moves in both directions. This is not the type of session where forcing trades tends to work. ES closed below 7,600 yesterday, which puts the pressure back on the bulls to reclaim that level early. If 7,600 remains resistance, the path opens toward 7,550 for a deeper test. These are the kinds of inflection points that can quickly determine whether buyers regain control or sellers start pressing their advantage.
NQ has a similarly important battleground at 30,500. Bears need to defend that level, while bulls need to reclaim it and build acceptance above it. The bearish roadmap targets 30,106 and ultimately the big 30,000 round number, while the bullish case centers around holding 30,412 and making a push back toward 30,750. With so many moving pieces today, the best approach is patience. Let the market open, let the opening range develop, and avoid getting chopped up trying to predict the first move. On FED days, less is more. Focus on the highest-quality setups and let the market come to you.
👉 Full breakdown is inside today’s Pre-Market Playbook.
Check it out here and trade it smart.
– Tony
