The Week Ahead

Nasdaq futures ended the week at 31049 after clearing the prior week’s high, but rejection from 31282.75 showed that buyers did not fully control the breakout. Friday’s strong Nasdaq finish, broad gains among major technology companies and a close well above the daily 21-day average give buyers a modest edge for the coming week. Holding the 30990–31005 area would keep another test of 31180–31285 in view, while sustained weakness below 30990 would expose 30880–30770. The strongest counter-argument is the 5.28% 10-year Treasury yield, which can pressure growth-stock valuations even when market momentum is positive. Monday’s ISM Non-Manufacturing report and Wednesday’s Federal Reserve minutes are the main scheduled tests of whether that edge can endure.

S&P 500 futures recovered sharply from 7672.75, but the weekly doji and rejection at 7810.5 left the market without firm directional control. Buyers defended the prior week’s low and Friday’s broader market finished higher, giving the upside only a slight edge within an otherwise balanced picture. Closing trade remained compressed, with 7755–7800 defining the immediate area where that balance is most visible. The strongest counter-argument to further recovery is the 5.28% 10-year Treasury yield, reinforced by a policy-heavy calendar that could restrain valuations. Monday’s ISM Non-Manufacturing report and Wednesday’s Federal Reserve minutes may determine whether the recovery strengthens or gives way to renewed rotation.

Gold futures fell from 4315 to 4171.9 and remained below the prior week’s low, confirming that sellers controlled the latest weekly move. Rejection at the daily 21-day average and a close 137.29 points beneath it leave the evidence clearly pointing lower. The 4190–4215 area now stands as resistance, while weakness below 4153.8 would bring 4143 and the 4100–4080 area back into focus. The strongest counter-argument is persistent investment demand: World Gold Council data showed record aggregate exchange-traded fund holdings after substantial August inflows. Weak payroll growth could also support gold if it eases tightening pressure, making Wednesday’s Federal Reserve minutes and Thursday’s rate-sensitive events important tests of the decline.

Crude futures closed the week at 91.27 after rebounding from 88.07, but they remained below both 92.46 and the daily 21-day average. Friday’s decline, heavy volume and fading momentum after the rebound give sellers a slight edge. Rejection beneath 91.60–92.00 would preserve pressure toward 90.00 and 88.70, while a close above 92.05 would weaken that outlook. Demand signals from Monday’s ISM report and Tuesday’s trade data may shape the week, while petroleum data could generate Wednesday volatility even though the supplied evidence did not verify the exact release details.