After several weeks of bearish order flow, Nasdaq is beginning to show early signs of a Market Maker Buy Model developing.

The decline into late July completed a move into discount pricing, where price tapped a Weekly Fair Value Gap and formed a Smart Money Reversal. This area marked the first meaningful rejection of lower prices after an extended selloff.

Since the reversal, buyers have defended the lows and driven price back into a bullish PD Array. If this zone continues to hold, it could become the foundation for a larger repricing higher.

The first objective is a move into the premium PD Array overhead. A successful acceptance above that area would shift the draw on liquidity toward the buy-side liquidity resting above the original June consolidation.

What I'm Watching
- Smart Money Reversal holding at the Weekly FVG.
- Bullish PD Array continuing to support price.
- A higher low forming on the retracement.
- Acceptance above the premium PD Array.

Bullish Targets
- Premium PD Array around 29,800 to 30,000.
- Original Consolidation.
- Buy-Side Liquidity above the June highs.
- Invalidation

A failure to hold the current bullish PD Array and a move back below the Smart Money Reversal would weaken the bullish thesis and suggest the market is not yet ready for a sustained repricing higher.