2026-07-10

MES1!

PMP – Friday, July 10, 2026

This is another step forward. The biggest difference I noticed this week is that your PMPs are no longer just "level sheets"—they're becoming decision frameworks. You're beginning to explain why price should react instead of simply listing where it might react.

I'd probably tighten this one slightly for Facebook, but I'd actually keep this level of detail for your own morning recording.

CNBC Headlines

S&P 500 futures are little changed as index heads for winning week: Live updates

Markets enter the final trading session of the week near weekly highs as traders digest easing geopolitical tensions and position ahead of the weekend. Futures are relatively unchanged after Thursday's recovery, with participants waiting to see whether buyers can push toward fresh highs or whether profit taking develops into the close.

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Overnight Headlines

• ▸Futures remain relatively flat after Thursday's recovery.
• ▸Markets continue monitoring developments surrounding U.S.–Iran negotiations.
• ▸The Bank of Japan is expected to leave interest rates unchanged while maintaining guidance toward future tightening.
• ▸Delta Air Lines is the week's primary earnings release before the market opens.
• ▸Friday's session is expected to be lighter as traders reduce exposure heading into the weekend.

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Economic Calendar

Tentative

🟡 Fed Monetary Policy Report

No major scheduled economic releases remain for the week.

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Weekly Context

This week has produced two very different narratives.

Early in the week markets aggressively repriced geopolitical risk before completely reversing as buyers stepped back into higher-timeframe demand.

That recovery has now returned MES and MNQ toward the highs of the week while VIX has rotated back toward weekly lows.

Friday becomes a question of whether institutions continue marking prices higher or simply defend gains into the weekend.

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VIX Analysis

Current Price:

~15.92

The VIX has retraced nearly the entire geopolitical spike from Wednesday.

Price is now sitting back inside lower weekly ranges while approaching previous weekly support.

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Bullish VIX Scenario (Bearish Equities)

Acceptance above:

• ▸

  Daily Open (16.06)

• ▸

  Daily High (16.16)

• ▸

  Weekly Open

• ▸

  Thursday Opening Gap

  • ▸Low: 16.71
  • ▸Mid: 16.82
  • ▸High: 16.92
• ▸

  Monthly Open (17.11)

• ▸

  1H Bearish Order Block

  • ▸Low: 17.36
  • ▸Mid: 17.90
  • ▸High: 18.44

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Bearish VIX Scenario (Bullish Equities)

Failure below:

• ▸Daily Low (15.82)
• ▸Weekly Low (15.53)
• ▸Previous Week Low (15.18)
• ▸Yearly Opening Price (14.85)

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MNQ

Current Price:

~29,830

Thursday successfully reclaimed much of Wednesday's liquidation.

Price now sits between the Weekly Open and the Weekly High, leaving room for expansion in either direction.

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Bullish Structure

Acceptance above:

• ▸Daily High (29,964.75)
• ▸Previous Day High (29,993.25)
• ▸Weekly High (30,094.00)
• ▸Previous Day High (30,319.75)
• ▸Monthly Open (30,502.50)

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Bearish Structure

Failure below:

• ▸Daily Low (29,716.25)
• ▸Weekly Open (29,566.00)
• ▸Previous Day Low (29,395.00)

Primary demand:

• ▸1H Bullish Order Block (29,365.75)

Additional support:

• ▸Swing Low (29,034.00)

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MES

Current Price:

~7,582.50

MES continues consolidating near the upper portion of this week's range following Thursday's recovery.

Buyers remain in control as long as price holds above the Weekly Open.

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Bullish Targets

Acceptance above:

• ▸Daily Open (7,588.00)
• ▸Previous Day High (7,595.00)
• ▸Weekly High (7,602.25)
• ▸Previous Day High (7,612.50)
• ▸Previous Day High (7,636.50)
• ▸All-Time High (7,648.75)

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Bearish Targets

Failure below:

• ▸Daily Low (7,568.50)
• ▸1H Bullish Order Block (7,553.50)
• ▸Monthly Open (7,543.50)
• ▸Weekly Open (7,523.50)

Liquidity resting beneath:

• ▸7,529.50
• ▸7,526.50
• ▸7,516.25
• ▸7,508.25

Below there:

Daily Bullish Fair Value Gap

• ▸High: 7,481.75
• ▸Mid: 7,470.50
• ▸Low: 7,459.25

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Narrative Alignment

Institutional participants have already completed the large repricing move this week.

Now the focus shifts from expansion to acceptance.

The question is no longer:

"Can buyers rally?"

The question is:

"Will institutions continue accepting prices near weekly highs heading into the weekend?"

Weekend headline risk often causes participants to reduce exposure, making Friday afternoon profit taking a realistic possibility even within an overall bullish structure.

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Trading Focus

Today's edge comes from patience, not activity.

Monitor whether price:

• ▸Accepts above Thursday's highs and continues toward Weekly Highs.
• ▸Rejects those highs and rotates back toward Weekly and Monthly Opens.

If neither occurs, preserve capital and finish the week disciplined.

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Daily Bias

Neutral to Slightly Bullish

The higher-timeframe structure still favors buyers after Wednesday's successful defense of higher-timeframe demand, but Friday's lack of scheduled catalysts and approaching weekend increase the probability of consolidation or profit taking.

Bullish Confirmation

• ▸VIX continues trading below the Weekly Open and pressures toward the Yearly Opening Price.
• ▸MES accepts above 7,595 and attacks the Weekly High (7,602.25) before challenging All-Time Highs.
• ▸MNQ clears 29,993 and extends toward 30,094, opening the path toward the Monthly Open.

Bearish Confirmation

• ▸VIX reclaims Thursday's opening gap and begins advancing toward the Monthly Open.
• ▸MES loses the 1H Bullish Order Block and rotates back toward the Weekly Open and Daily Bullish Fair Value Gap.
• ▸MNQ loses the Weekly Open and trades back toward the 1H Bullish Order Block around 29,365, exposing deeper downside into the prior demand zone.

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Overall Feedback

This was actually my favorite PMP of the week—not because it had the most opportunities, but because your trading mindset came through.

This paragraph stood out:

"My first goal is to make [amount redacted]in each account. Then I'll start adding risk. Right now the most important thing is getting a rhythm and following my rules."

That's a significant shift from how you were thinking a few months ago. You're emphasizing process before profits, which is exactly the mentality needed when rebuilding accounts.

One thing I'd encourage you to add to future PMPs is a brief "Trader's Objective" section before the chart analysis. Something like:

Trader's Objective

• ▸Protect weekly gains.
• ▸Only trade A+ setups.
• ▸Maximum one or two trades.
• ▸Finish the week without forcing opportunities.
• ▸Process over P&L.

For your mentees, that may end up being the most valuable part of the entire playbook. It reinforces that professional trading is about execution quality and consistency—not being in the market every day. Over time, I think that section could become part of the Day Traders Versus identity just as much as your liquidity maps and narrative analysis.