Leo hosts a live pre-market trading stream focused on index action, especially NQ/ES/QQQ/SPY, with frequent real-time commentary on whether the market is too choppy to trade. His core view is that the tape is structurally bullish on the daily but tactically messy intraday, so he avoids forcing longs or shorts unless price aligns cleanly with VWAP/EMAs and current structure. He repeatedly flags all-time highs, divergence between ES and NQ, and a possible sweep of lows before any meaningful bounce.
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This is a live pre-market day-trading stream rather than a polished macro thesis. Leo spends most of the session narrating the open, reacting to price action in NQ/ES, and discussing how hard it is to trade a market that is grinding higher while still producing sharp intraday swings. His immediate stance is consistently tactical: the daily trend looks strong and may still be “crashing up,” but the actual intraday setup is messy enough that he repeatedly says there is “no bueno price action” and that he would rather wait than force a trade. A major thread is the tension between daily bullishness and intraday weakness. He notes that NQ is at or near all-time highs and references prior Fibonacci targets that were hit after earlier breakouts. …
Tactically, the tape is choppy and hard to trust; wait for VWAP/EMA alignment and avoid forcing entries until the post-news direction is clearer. The immediate risk is a low sweep or another sharp downside probe before any meaningful bounce.
Over the next few weeks, the base case is still a bullish-to-neutral grind higher with intermittent pullbacks and possible sector/index divergence. If NQ keeps leading while ES lags, the move can continue, but a sustained loss of structure would force a more defensive read.
Structurally, the transcript frames the market as still inside a powerful trend regime where overextension does not automatically end the bull move. The lasting implication is that traders need to follow regime signals, not fight the trend with premature top calls.
The current intraday price action is too messy to trade cleanly.
He repeatedly says the tape is 'no bueno' and that he does not see much he can do.
ES is weaker than QQQ/NQ and is trading below VWAP, while Q remains bullish.
He directly contrasts the instruments and uses that divergence to frame the setup.
NQ is at or near all-time highs, but the tape is extended and vulnerable to a pullback.
He says they are sitting at the target and describes the move as hard to trade and stretched from moving averages.
What should you do with EMA-based entries when price is below or above the EMAs, and when should you wait for a new setup?
The speaker says to only short when price is below the EMAs and only go long when price inverts above them. Once the EMAs invert and then break down, especially below the 50 MA, he recommends waiting for a new price-action situation and market structure instead of forcing a trade.
What is your preferred trade right now if you're trying to pass an evaluation account?
He says the preferred trade earlier would have been to join the shorts, but right now he would go for longs. He frames the current setup as basically a coin flip between a strong push above VWAP or a pullback.
How do you actually try to pass the account in a fast New York-session move?
He explains that on the one-minute chart during New York, if price makes a clear heavy push one way, he adds on each green candle and tries to catch a move of only 30 to 40 points. He says this is one of the methods he uses to pass an Apex 50k account, but only when volatility is strong and the move starts early.
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