This week’s market prep is now live.
Last week was a useful example of why I’m trying to make these weekly notes conditional rather than predictive.
The previous plan stayed neutral unless NQ could establish genuine acceptance above 29,800 - 30,200.
Price did exactly that, clearing 30,000, 30,100 and 30,300 - 30,400 before testing the 31,000 - 31,100 area.
That changes the structure going into this week:
Bias: Bullish structure
Conviction: Medium
I’m not treating that as a reason to chase price. The key question is whether the market can now hold the breakout structure.
My main levels:
31,100: year high
31,000: immediate resistance/acceptance level
30,700: first pullback area I’m watching
30,300 - 30,400: major breakout support
30,000: deeper support
If 30,700 holds on a pullback, the recent higher structure remains intact.
If it fails, 30,300 - 30,400 becomes the more important test.
A sustained move back below that shelf would tell me something more significant has changed.
It’s also a heavy macro week:
Tuesday: JOLTS + consumer confidence
Wednesday: Core PCE + ADP + final Q2 GDP
Thursday: ISM manufacturing + jobless claims
Friday: Nonfarm payrolls + unemployment + wages
With NQ sitting near the year-high region, the reaction to those releases matters more to me than guessing the number beforehand.
The process remains:
Map the structure → define the conditions → wait for confirmation → review what actually happened.
Full weekly analysis:
bagstradesfutures.com/weekly
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