NQ Trade Plan 7/8

The dip was bought again, 22900 remains the pivot.

Nasdaq Futures Trading Plan – July 8

Market Overview

NQ opened the week with a sharp sell-off to 22,778, which aligned with a retest of the daily bullish trend line extending from April. This trend line has consistently acted as dynamic support for the multi-month uptrend and was respected once again during Monday’s session.

The initial sell-off was driven by geopolitical headlines, specifically Trump’s announcement of new tariffs on 14 countries, set to take effect on August 1. This spooked markets briefly, but buyers stepped in aggressively at key support.

Heading into Tuesday’s session, price has fully recovered and is now consolidating within the 22,900–23,000 range. With the VIX pulling back below 18 and risk appetite stabilizing, the bullish trend remains intact unless we break back below key levels.

No major economic data is scheduled for today, but markets will remain sensitive to any trade-related headlines or FOMC commentary ahead of tomorrow minutes release.

Key Trade Scenarios

Bullish Scenario (Long Bias)

• A bullish continuation setup is in play, with the London session closing higher than the Asia session.

• For this setup to remain valid, price must hold above 22,910.

• If price remains supported at that level, I’ll be looking for long entries targeting:
  23,000 → 23,027 → 23,051

• A break above 23,007.25 (prior swing high) would open the door to a test of the all-time high at 23,101.

Bearish Scenario (Short Bias)

• If price puts in a lower high below 22,910, the bullish setup is invalidated.

• I’ll then look for short opportunities targeting:
  22,857 → 22,808 → 22,778

• A break below 22,778 would likely trigger additional selling down to the daily bullish FVG at 22,603.75.

Key Levels and Targets

• Resistance Levels: 22,971 → 23,000 → 23,027 → 23,051 → 23,101

• Support Levels: 22,910 → 22,857 → 22,808 → 22,778 → 22,701

• Fair Value Gaps (FVGs):

  • 1HR Bullish FVG: 22,778.50 → 22,701.00

  • 1D Bullish FVG: 22,603.75 (strong structural support)

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Additional Notes:

• The 22,910–22,935 zone has become an important intraday pivot; control of this level will likely dictate direction into the NY open.

• Volume during Sunday’s bounce was slightly elevated, signaling strong demand on the retest of the trendline.

• Expect a range expansion tomorrow with FOMC minutes being released, so today’s session may be more positioning than trend-driven.