Waiting on a Spark
by Tony Rago
It was a quiet overnight session, and for now the tape looks like it wants to stay that way. ES bulls need to hold above the weekly pivot at 6,957 and then reclaim the weekly open at 6,980 to really shift momentum back in their favor — that weekly open is important because it often acts as a sentiment line between control and balance. On NQ, buyers need to stay above 25,750 and push through yesterday’s highs at 25,812 to show they’re ready to press. That’s a tall ask without fresh fuel, and it may take most of the day to see if they can grind it out.
On the flip side, bears don’t have much traction without help. A real push lower likely needs a headline, and today we’ve got two potential catalysts with PMI in the morning and FOMC minutes this afternoon. Until then, it’s a market that rewards patience — letting levels do the talking instead of forcing action. Stay flexible, respect the ranges, and be ready if volatility finally wakes up. Let’s get it. 💪
👉 Full breakdown is inside today’s Pre-Market Playbook. Check it out here and trade it smart.
