Our Pre-Market Reports offer reliable multiple timeframe analysis, and are used to set the game plan for the upcoming trading day, complete with trade ideas and forecasted targets.
The NQ has reached critical support at 4330, which bulls are attempting to defend for a swing move back to 4508.75. Failure to hold this level opens the door to a return to 3998.50. The ES may be developing a new key range from 2008.75 to 2103.75, which implies a potential bounce to 2056.25 soon, unless it fails to close above 2021.50.
The ES is approaching the top of resistance between 2120 to 2126, while the NQ has far surpassed its 4550 resistance level. Look for bulls to defend pullbacks in the short term. Crude Oil is holding at the bottom of the 8-day trading range, which offers a responsive buying opportunity. Failure to hold above 50.50 has clear air to 49.
The ES and NQ are holding within two-day ranges after Tuesday’s rally. Watch the boundaries of these ranges for potential expansion ahead, but look to fade the extremes of the range until acceptance outside the range is seen. Crude Oil appears headed for another round of selling ahead, especially if the bulls cannot reclaim 81.57.
The ES and NQ remain bullish on a swing basis, but may see an intraday retracement during Friday’s session. Any pullback is still considered a buying opportunity for new swing highs.
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