Pre-Market Playbook - NQ Leads the Weakness

NQ Leads the Weakness
by Tony Rago

NQ is clearly the weaker tape this morning and it's been dragging ES along with it. For bulls to regain traction, NQ needs to get back above the 25,530 weekly open — that's the line where control starts to shift back toward buyers. Until then, pressure remains. Under 25,312, things get slippery fast, opening the door to a move toward weekly lows and down into 25,106. ES isn't offering much help either, trading under its weekly pivot pre-market, which means bulls are already on defense and will need to prove they can reclaim key structure early.

We also have economic data in the first 30 minutes, so patience is the trade early. I'll be watching how price builds and then reacts around the opening ranges — breaks and holds there often give the clearest clues on direction when volatility is elevated. It feels like one of those sessions where opportunities will be there, but only if you let the market show its hand first. Plenty of movement expected today, so stay disciplined, stay selective, and don't rush the setup. Let's get after it. 💪

👉 Full breakdown is inside today's Pre-Market Playbook. Check it out here and trade it smart.

P.S. I'm hosting a live webinar today at 2:00pm ET — we'll break down current market structure, key levels, and how I'm navigating this volatility in real time. You don't want to miss it, click here to register.

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Pre-Market Playbook - NQ Leads the Weakness

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