My market analysis and trading plans for the week of 2 November 2026

Inside Bobby's head

All my plans from last week played out.

US indices

The week started with a move up to the levels I was expecting: the round number of 30,000 points on NQ and 7,800 points on ES.

Nice work if you were long!

Then the sell-off resumed and the indices fell much further. Is it time to buy already, or is it better to wait?

Nasdaq

Here's the problem: price has already fallen too far to short comfortably, and there isn't enough strength to go long yet.

I'm mainly watching for buyers to come back in force and sellers to lose momentum. That could create an upside imbalance over a session or two.

If that plays out, I might look for a long to catch a move back towards balance around 29,400 points on NQ, based on the Volume Profile.

For now, I still favour the downside and might keep taking shorts. Given the uncertainty, I'd keep those trades very short and take profits quickly.

Gold

As expected, price broke below the range. Nice work if you were short!

Can the sell-off keep going, though? Is it already too late to look for shorts this week? I don't think it's necessarily too late!

We spent nearly a month ranging between $4,000 and $4,200, with a lot of volume. After that much time in balance, I'm expecting a bigger move if the breakdown holds.

We're already down more than 100 points from the recent highs. What I'm really looking for is for the market to move away from this area of acceptance, where a lot of trading took place, and settle into another one. The next area I see is around $3,700.

The idea would be to look for shorts at my daily algorithmic levels, especially VWAPs, as long as I don't see any sign of sellers losing momentum.

Prop firms

For smaller budgets: Tradeify

Tradeify is offering 40% off its Growth accounts. For example, the 50K account comes to $87 with the code 84001, with no activation fee or subscription.

That makes it one of the three cheapest 50K accounts on the market. It's a good opportunity if you already trade with Tradeify or were planning to give it a shot!

For bigger budgets: be patient

Black Friday is getting closer. We've still got some time, but I think prop firms have some good deals in store over the next few weeks.

So be patient. No FOMO!

PS: I put out a video comparing futures and CFD prop firms. Two types of prop firm, very different rules and only one winner.

These are my personal trading plans, shared for information, not investment advice.