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📅NQ Weekly Reflective Study
🧭 Market Structure Overview
Daily: OTFD (Ends 30,101)
Weekly: 4WK Balance (28,708 - 30,808)
Monthly: OTFU (Ends 27,613)
What Happened Last Week
NQ continued higher early in the week and met with Weekly Resistance at 30,798/831, printing an excess Low and an opening drive lower, which the consistently marked lower highs before breaking down on Friday. Buyers failed to find meaningful traction off Weekly VAH at 30,302, resulting in a failed value breakout and initiated a full traverse. Thereafter initiative sellers took control below Weekly VAL at 29,856/90 and Balance Top 29,769 resulting in a Balance Breakout failure and initiated a full traverse of the prior 2WK Balance, printing new lows for the Week and ending Weekly OTFU.
The most notable development occurred on Friday when NQ opened on a true gap down that is for the second time in two sessions - recall Thursday was a true gap down, but sellers failed to capitalize, Friday marked second such attempt and that meant sellers mean business. Add to that, sellers found acceptance below Weekly VAL + back inside prior 2WK Balance (28,708 - 29,769), giving sellers 3x control all in one session. Ultimately ending the week around Balance Low with a poor (thin) structure up above.
Structural Outcome & Way Forward
From hereon, the key is to observe whether sellers can sustain Friday’s breakdown and continue to establish value within the Lower distribution of the 4WK Balance. If so, the next objective will be to fill the Gap below at 28,153 - 28,186. Balance Rules to guide the week ahead.
