Key Levels Still Define the Tape
by Tony Rago
It was a choppy overnight session, and price remains below two of the biggest levels on the board: 7,500 on ES and 30,000 on NQ. Those are the levels bulls need to reclaim and break out above if they want to regain control and put this market back into rally mode. Until then, the burden of proof remains on the buyers. NQ bulls need to defend 29,500 on any pullback, while ES bulls need to continue holding the 7,400 area from above. These are the zones where buyers have an opportunity to prove demand is still present and that this recent weakness is simply consolidation rather than something more significant.
For the bears, the playbook is straightforward. Continue selling rallies into resistance and keep pressure on those key support zones at 7,400 and 29,500. If those levels start breaking down, the market could quickly open the door to another leg lower. Right now, the market is caught between important support and resistance, which means patience matters more than prediction. Let the opening range establish itself, see who gains control, and trade the evidence in front of you. The levels are clear — now we wait to see who wins the battle.
👉 Full breakdown is inside today’s Pre-Market Playbook.
Check it out here and trade it smart.
– Tony
