NQ – NFP Week Setup: Premium Distribution & Bearish Intent

Going into NFP week, the market is positioned in a premium array, trading above equilibrium. The recent attempt to push higher failed with a swing high left behind – an inducement that sets the tone. (a later target i would say)

We now have a buy-side rejection and displacement lower into sell side delivery. Price is hovering just up around equilibrium , with 2 inefficiencies overhead serving as potential rejection points.

I expect that the Bearish target will be taken close before or at NFP.
If Bullish target is taken first I would re-assess.