Weekly Market Recap (2026.07.10 – 2026.07.13)
Last Friday (10 July 2026, 17:00), the Daily timeframe showed signs of a retracement after the previous bearish momentum, suggesting that buyers were beginning to regain some control. Based on that price action, my expectation was that if the market opened with a weekend gap, it would most likely gap to the upside in line with the developing retracement.
However, the market had different plans.
As this week's session opened, price gapped lower, immediately favoring the bearish side instead of continuing Friday's recovery. That bearish gap signaled that sellers remained in control despite the late-week bounce, effectively invalidating the short-term bullish expectation.
Looking at the current price action, buyers have attempted to fill part of the gap by pushing price higher from the early lows, but the market is still trading within a bearish context until key resistance levels are reclaimed. The initial recovery could simply be a retracement into liquidity before sellers decide on the next move.
This serves as a good reminder that while Friday's close can provide valuable clues about market sentiment, weekend gaps are heavily influenced by events and order flow that occur while the market is closed. As traders, our job is not to predict the gap itself, but to quickly adapt once the market reveals its true direction.
Key takeaway: My bias going into the week was for a bullish gap because of Friday's Daily retracement. Instead, the market opened with a bearish gap, reinforcing the importance of remaining flexible and allowing price—not expectations—to dictate the trading plan. Click to get MT5 Chart Replay.
Looking at how the Market gaped.
