Tariffs In Place. Sell The Rallies?

PRE-MARKET TRADE PLAN 03/04/2025

Well I woke up this morning and the ES and NQ are essentially balanced. The ES with an imbalance to the high side while the NQ is pretty balanced but looking to break lower as I type this. At 12:01 AM CST the tariffs took effect on Canada, Mexico and China and the markets, at this time, really do not seem to care all that much. Volume is +86.6% above average so they are definitely getting work done down here. Question is, will it translate into a test of 5809.75 / 5800 on the ES and can the NQ finally break and find acceptance under 20341, levels we have been watching since Nov 2024.

These levels on the ES and NQ represent range lows for me. They are huge and I expect Buyers to defend or I believe things will get ugly fast.

Everyone knows Trump watches the markets like a hawk. He understands the implications of having the markets live under constant uncertainty. So this begs the question, why? Pressure the FED? Weaken the USD? Fight inflation by other means? Whatever the reason is, this seems to be a purposeful approach and not that he just doesn’t care this time around. My thoughts are, wreck the markets now to accomplish other goals and have plenty of time to bring them back to all-time highs when it matters most.

So what does this mean for today and how we approach the ES and NQ as Day Traders?