At 9:30 AM ET on Friday, one 30-minute bar lifted December S&P 500 futures from 7,394.50 to 7,469.00. It reached the 7,430 to 7,440 short band we set at Thursday’s settle and the 7,462 stop in the same bar. Every print before it had held at or beneath 7,427.25. The 10:30 AM ET and 11:00 AM ET bars then closed above 7,440, the acceptance test the card named. No fill and no result is asserted.
The contract still settled higher. December E-mini futures settled at 7,402.00 on Friday, up 19.00 points or 0.26 percent, after a 146.75 point range from 7,469.00 to 7,322.25. The low came in the 6:00 PM ET bar at Thursday’s reopen and the high in the first cash bar. Both extremes sat beneath Thursday’s. The settle finished at 54.3 percent of the range. Over the week the contract fell 212.00 points, or 2.78 percent.
December S&P 500 futures settled at 7,402.00 on Friday, beneath every settlement average from the 5-day to the 200-day; it is the second consecutive settle beneath the 200-day at 7,439.25. Monday’s setup is a short from 7,465 to 7,475. The whole band sits above the settle, its bottom 63.00 points up, with Friday’s 7,469.00 high and Pivot R1 at 7,473.25 inside it. The stop is 7,497, 15.49 above the 7,481.51 stall of the 14-day %K line. The first two targets, 7,443 and 7,416, sit above the settle; only the extended 7,389 sits beneath it. Per the dataset’s levels, the 7,376.86 cash close sits 76.86 points above its 7,300 put-side support base and 123.14 beneath its 7,500 resistance. Globex reopens at 6:00 PM ET on Sunday after two days of weekend headline risk.
Friday’s short: band and stop in the first cash bar
In Friday’s outlook we set a short from 7,430 to 7,440 at Thursday’s settle. Its stop sat at 7,462. The targets were 7,408, 7,381 and an extended 7,354. The card covers the whole Friday session, from the Thursday 6:00 PM ET reopen. Friday’s completed bar, from the review and the dated 2026-11-06 row, opened at 7,359.00. It ranged from 7,469.00 to 7,322.25 and settled at 7,402.00.
The night stayed beneath the band. The open sat 71.00 points under the band bottom. The 6:00 PM ET bar made the 7,322.25 low, beneath all three targets. Those prints came before any entry. For a short, a target print ahead of the band does not count. From the reopen through the 9:00 AM ET bar the highest print was 7,427.25, in the 4:30 AM ET bar, 2.75 beneath the band.
Then the cash open. The 9:30 AM ET bar opened at 7,394.50, 35.50 beneath the band bottom. It rose to 7,469.00 and closed at 7,451.25. That one bar reached the band and the 7,462 stop, topping the stop by 7.00. Its internal order is not established beyond its open beneath both. The 10:00 AM ET and 10:30 AM ET bars also printed at or above 7,462. Then the 10:30 AM ET and 11:00 AM ET bars closed at 7,446.75 and 7,445.25. That pair met the acceptance test the card named, two consecutive 30-minute closes above 7,440.
The first target came later. The 12:30 PM ET bar fell to 7,397.00, through 7,408, after the stop prints. From the 10:00 AM ET bar on, the lowest print was 7,396.50, in the 3:30 PM ET bar, 15.50 above the second target. Neither 7,381 nor 7,354 traded after the band. No fill and no result is asserted.
The thesis line held. The card negated its thesis on a settle above the Pivot Point at 7,489.25. Friday’s high stopped 20.25 points beneath it, and the settle came in 87.25 beneath it. The card’s base case was a rebound toward the 7,429.27 conversion and the 200-day average at 7,437.75 that stalls there. The rebound ran to 7,469.00, 31.25 past that average, before the settle at 7,402.00. Friday’s whole range stayed inside the base-case span, from Pivot S1 at 7,239.75 to the Pivot Point.
Our session ranges mostly held. The night session, 6:00 PM to 3:00 AM ET, traded from 7,322.25 to 7,417.00, inside its 7,300 to 7,420 band. London, 3:00 AM to 8:00 AM ET, traded from 7,377.00 to 7,427.25, inside 7,310 to 7,430. The morning session ran from 7,392.00 to 7,469.00, inside 7,280 to 7,470 with 1.00 to spare. The afternoon high of 7,451.75 sat 1.75 above its 7,300 to 7,450 band. The low-range case, 7,310 to 7,430, missed on the high side by 39.00; the mid-range case, 7,270 to 7,470, held by 1.00. We grade the card as written: band and stop in one bar, then the acceptance closes, with no result claimed.
Up 19.00 to 7,402.00 from a 7,322.25 low at the reopen
December E-mini futures settled at 7,402.00 on Friday, up 19.00 points or 0.26 percent from Thursday’s 7,383.00. The range ran 146.75 points, 1.15 times the 14-day average daily range of 127.25. That is 246.00 points narrower than Thursday’s. Friday’s gain recovered 19.00 of the 337.50 points lost on Thursday.
Both extremes slipped. The 7,469.00 high sat 269.75 beneath Thursday’s 7,738.75, and the 7,322.25 low sat 23.75 beneath Thursday’s 7,346.00. Even so, the settle came in 19.00 higher, inside the lower half of Thursday’s 392.75 point range. The low is the provider’s one-month and 13-week low. It is also the lowest low in the contract’s record since the 7,315.50 low of 05/04/26, a thinly traded early row, 6.75 points lower.
The low came first. Globex reopened at 6:00 PM ET on Thursday at 7,359.00, 24.00 beneath Thursday’s settle, and the 6:00 PM ET bar made the 7,322.25 low. The 7:00 PM ET bar rose 35.25, from 7,350.75 to 7,386.00. From the reopen to 3:00 AM ET the bars held between 7,322.25 and 7,417.00 and closed that window at 7,383.25. The 2:00 AM ET bar fell 25.50, from 7,386.25 to 7,360.75. No bar in the session fell further.
Early trade stayed narrow. From 3:00 AM ET to the cash open the bars held between 7,377.00 and 7,427.25, and the 9:00 AM ET bar closed that window at 7,394.50. The 8:30 AM ET bar, which carried the employment report, traded between 7,378.00 and 7,404.75 and closed at 7,394.75. Then the 9:30 AM ET bar rose 56.75 to 7,451.25 and made the 7,469.00 high. No bar gained more.
The cash session gave ground after that. From 9:30 AM ET to 4:00 PM ET the bars held between 7,392.00 and 7,469.00. The 12:30 PM ET bar fell 24.50 to 7,416.50. The 3:30 PM ET bar fell 25.25 to 7,400.00, 2.00 beneath the 7,402.00 settle. After the cash close the 4:30 PM ET bar closed at 7,404.00.
The basis narrowed again. Friday’s settle less the 7,376.86 cash close measures 25.14 points, against 29.27 on Thursday. Every cash equivalent here uses the new figure. The dataset keeps its own 30.70 point offset, 5.56 wider. Its published futures pairs are 8,130.70 for the 8,100 call-side ceiling, 7,705.70 for the 7,675 modeled volatility threshold, 7,621.70 for the 7,591 modeled gamma-flip level, 7,330.70 for the 7,300 put-side support base and 7,030.70 for the 7,000 gamma concentration.
Resistance comes first. It starts 19.70 points above the settle, at the 7,421.70 projection for the 20 percent raw stochastic, with the 200-day average at 7,439.25 above it. Then the band the setup uses. Friday’s 7,469.00 high (cash 7,443.86), Pivot R1 at 7,473.25 (cash 7,448.11) and the 7,481.51 stall of the 14-day %K line (cash 7,456.37) sit within 12.51. The 7,525.14 conversion of the dataset’s 7,500 resistance and the one-range frame top at 7,526.31 sit 1.17 apart. One standard deviation resistance at 7,543.93 and Pivot R2 at 7,544.50 (cash 7,519.36) sit 0.57 apart.
Higher up sit the 5-day average at 7,535.25, the 7,537.98 retracement from the four-week low, two deviations at 7,602.72 and the 7,603.53 price that would cross the 9-day average on Monday. The 10/30 settle of 7,614.00, the flip-level conversion at 7,616.14, Pivot R3 at 7,620.00 (cash 7,594.86), the 9-day at 7,620.75 and the 7,621.70 flip pair follow within 7.70. Three deviations sit at 7,647.83.
The upper references are far off. The 20-day at 7,696.75, the 100-day at 7,698.75, the threshold conversion at 7,700.14 and its 7,705.70 pair come next. The 50-day at 7,734.50 and Thursday’s 7,738.75 high (cash 7,713.61) follow. The 7,887.00 one-month high, the 7,905.00 52-week and 13-week high (cash 7,879.86) and the 8,130.70 ceiling pair complete the list.
Support starts 2.00 points down, at the 7,400.00 close of the 3:30 PM ET bar (cash 7,374.86). The Pivot Point at 7,397.75 (cash 7,372.61) sits 4.25 beneath the settle. The 7,392.00 cash-hours low, the 7,383.25 close of the overnight window, Thursday’s 7,383.00 settle and the 7,377.00 bottom of the pre-cash window follow. Beneath them sit the 7,360.75 close of the 2:00 AM ET bar, Friday’s 7,359.00 open and the 7,355.30 retracement from the 52-week low. The settle sits 46.70 above that retracement.
Then a tight group. Thursday’s 7,346.00 low, the 7,338.31 published target price, the dataset’s 7,330.70 put-base pair, Pivot S1 at 7,326.50 (cash 7,301.36), the 7,325.14 conversion of the 7,300 put-side base and Friday’s 7,322.25 low (cash 7,297.11) sit within 23.75. The settle sits 63.69 above the target price. The 7,315.50 low of 05/04/26 lies 6.75 beneath Friday’s low.
Beneath that the next band opens. The one-range frame bottom at 7,277.69, one standard deviation support at 7,260.07 and Pivot S2 at 7,251.00 (cash 7,225.86) come first. Then the wider bands. Two deviations at 7,201.28, the 7,185.50 retracement of the 52-week range, Pivot S3 at 7,179.75 (cash 7,154.61) and three deviations at 7,156.17 follow. Deeper still. The 7,125.14 conversion of the 7,100 support, the 7,030.70 concentration pair, the 7,025.14 conversion of the 7,000 key strike and the 6,466.00 52-week low are the deeper references.
Every average sits above the settle. It sits 133.25 points beneath the 5-day at 7,535.25, 218.75 beneath the 9-day at 7,620.75 and 294.75 beneath the 20-day at 7,696.75. The longer averages sit further off. It sits 332.50 beneath the 50-day at 7,734.50, 296.75 beneath the 100-day at 7,698.75 and 37.25 beneath the 200-day at 7,439.25. It is the second consecutive settle beneath the 200-day. Each average was rounded once to the 0.25 tick from the 260-session settlement series.
The order shifted slightly. The 100-day now sits 2.00 above the 20-day. The 5-day fell 42.50 from Thursday’s 7,577.75 as Friday’s settle replaced the 10/30 settle of 7,614.00, and the 200-day rose 1.50 from 7,437.75. The 30 older settlements in the 50-day window averaged 7,759.75, which keeps the 20-day beneath the 50-day. The 50 older settlements in the 100-day window averaged 7,663.25 and the 100 older settlements in the 200-day window 7,179.75. The 200-day window holds 27 rows with no recorded volume from the contract’s thinly traded early months, so that average rests on thin history.
Momentum readings sit low. On the provider’s published readings, taken at 6:21 PM ET on Friday with Globex closed, relative strength reads 31.06 on the 9-day, 34.19 on the 14-day and 37.07 on the 20-day. The raw stochastic reads 16.04 percent on the 9-day and 14-day and 14.12 percent on the 20-day. The smoothed 14-day %K at 31.27 percent sits 0.25 beneath %D at 31.52 percent.
Direction leads negative. The 9-day ADX reads 27.81, with +DI at 12.62 and -DI at 26.12. The 14-day ADX reads 21.32, with +DI at 13.51 and -DI at 25.95. Negative direction leads on both, by 13.50 and 12.44. Historic volatility reads 26.19 percent on the 9-day and 22.48 percent on the 14-day.
The composite multi-indicator read published for the Friday session is 88 percent sell, against 72 percent sell a session earlier. Its strength is described as maximum and its direction as strongest, and the trend composite reads sell. A week ago the snapshot read 56 percent sell, and a month ago 64 percent buy. The short-horizon and medium-horizon groups each average 100 percent sell and the long-horizon group 33 percent sell.
Friday’s range sat above the averages. The 14-day average true range stands at 124.31 points and the 14-day average daily range at 127.25. The 9-day figures are 144.05 and 150.86, the 20-day figures 112.04 and 115.24. One average true range either side of the settle frames Monday between 7,277.69 and 7,526.31. The deviation bands run 7,260.07 to 7,543.93 at one deviation, 7,201.28 to 7,602.72 at two and 7,156.17 to 7,647.83 at three. Built from five settlements, they describe dispersion and say nothing of intraday reach. The weekend adds headline risk that a single-session band does not cover.
Zoom out. Daily ranges over the last ten sessions, from 10/26, ran 87.75, 73.00, 69.25, 64.25, 154.75, 123.00, 77.75, 256.25, 392.75 and 146.75 points. Settlements over the last six sessions read 7,614.00, 7,574.50, 7,596.75, 7,720.50, 7,383.00 and 7,402.00. Over five sessions the contract is down 212.00 points from the 7,614.00 settle of 10/30, which the provider publishes as a 2.78 percent five-day change. Friday’s high sat 436.00 beneath the 7,905.00 52-week high. The 52-week low is 6,466.00.
Chips rose 4.21 percent as the volatility index fell to 25.64
News items keep their own times here. None is tied to a price move. The 30-minute bars place Friday’s low in the 6:00 PM ET bar at the Thursday reopen and the high in the 9:30 AM ET bar, and the bars carry no cause.
Chips led. The S&P 500 cash index closed at 7,376.86, up 23.13 points or 0.31 percent. The Nasdaq-100 cash index rose 1.35 percent and the semiconductor index 4.21 percent, while the Dow industrials fell 0.46 percent. The press wrap carried by the news feed described chipmakers rebounding as dip buyers returned despite bets on a Federal Reserve rate increase; that is attributed commentary. The provider’s commentary said weakness in software shares limited Friday’s gains, also attributed commentary. The series does not establish that any single report caused a particular move.
Other markets moved too. The volatility index closed at 25.64, down 9.01 percent from 28.18. The ten-year yield index rose three basis points to 4.86 percent, and the dollar index rose 0.74 percent to 102.30. December crude rose 0.34 percent to 90.83 and December gold fell 0.94 percent to 4,074.9. The contract rose while yields rose, and nothing in the data separates the effects.
Friday’s releases are complete. The employment situation report was released at 8:30 AM ET on Friday, November 6, as the calendar lists it. Per the news-feed calendar, payrolls came in at 165 thousand against a forecast of 70 thousand. Unemployment was 4.1 percent against 4.2. Hourly earnings rose 0.4 percent on the month against 0.3, per the same calendar. Consumer credit, scheduled for 3:00 PM ET as the calendar lists it, rose 27.84 billion dollars against a forecast of 13.8 billion, per the news-feed calendar. In the early afternoon the news feed carried remarks from a Federal Reserve official that services inflation was not coming down as expected.
Spending items ran through the session. At 10:55 AM ET the news feed carried the head of an international financial institution saying market volatility tied to artificial intelligence was likely to continue. Two reports followed. At 12:36 PM ET the equities feed carried a report that a large software company was winding down an agreement to rent artificial-intelligence computing capacity from a database company. At 3:59 PM ET it carried a report that an artificial-intelligence developer had closed an 11 billion dollar funding round at a 1.25 trillion dollar valuation. These are reports carried by the feed. The calendars carry no mega-cap earnings entry for Monday.
Positioning data came after the bell. The weekly positioning report for the week to Tuesday, November 3, was released after Friday’s close. The index feed’s item said equity fund speculators trimmed their S&P 500 net short position to 345,246 contracts, a reduction of 27,501, the figure as published. A tentative diplomatic meeting on Russia and Ukraine is listed for Tuesday, November 10, per the news-feed calendar, unconfirmed.
Activity fell back. Friday’s December volume was 1,877,813 contracts on the 2026-11-06 row, against 3,542,881 on Thursday’s revised 2026-11-05 row, a drop of 1,665,068 or 47.0 percent. Our Friday outlook carried the preliminary 3,349,999 for Thursday. Thursday’s open interest now reads 2,017,335 on the revised 2026-11-05 row, 48,929 above Wednesday’s 1,968,406. Friday’s open interest was not yet reported.
The dealer-positioning dataset used here, the edition timed 5:21 PM ET on Friday, takes Thursday’s closes as its reference prices. Its 7,353 index reference sits 0.73 beneath Thursday’s 7,353.73 cash close. Its 26,629 Nasdaq-100 reference sits 0.81 beneath Thursday’s 26,629.81. Thursday’s 7,353.73 plus 23.13 points, a 0.31 percent gain, gives Friday’s 7,376.86 close. Every level below is read against that close.
The close sits between two of the dataset’s levels. It sits 76.86 points above the 7,300 put-side support base (ES 7,325.14 at the measured basis, dataset pair 7,330.70) and 123.14 beneath the 7,500 resistance (ES 7,525.14). The 7,591 modeled gamma-flip level sits 214.14 above the close (ES 7,616.14, pair 7,621.70) and the 7,675 modeled volatility threshold 298.14 above it (ES 7,700.14, pair 7,705.70). The 8,100 call-side ceiling sits 723.14 points above, and the 7,000 gamma concentration 376.86 beneath. In the dataset’s model, gamma tilt reads 0.653, gamma notional minus 1.317 billion dollars and the gamma index minus 4.721. Its implied moves are 0.53 percent for one day, about 39.10 points on the close, and 1.48 percent for five, about 109.18. Its 25-delta risk reversal reads minus 0.096. The modeled threshold and flip level are model outputs; neither is an option strike.
The dataset draws its own map. Its summary lists resistance at 7,500, a dealer-positioning pivot at 7,690 and support at 7,100. Its key strikes are 7,000, 8,000, 7,500 and 7,700, all in cash. These levels were computed from Thursday’s closes, and the dataset does not state how they shifted during Friday’s session. At the measured basis the 7,100 support converts to 7,125.14 and the 7,000 key strike to 7,025.14. Statements in the dataset about the order of intraday moves are not used; the session path here comes from the futures bars.
The console adds detail. The S&P 500 positioning console, read at 6:18 PM ET, carried Thursday’s 7,353.73 as its previous close. Its 7,382.65 price, up 0.39 percent, is a console reading and sits 5.79 above Friday’s cash close. It shows model call gamma of 424.76 million against put gamma of minus 5.74 billion. Options volume read 1.38 million calls against 1.88 million puts, which says nothing about direction. One-month implied volatility reads 20.28 percent against realised volatility of 20.18 percent, 0.10 points apart. The implied-volatility rank reads 64.16 percent, the skew rank 5.93 percent and the put-to-call open-interest ratio 1.34. The dataset’s gamma figures and the console’s come from different models and timestamps, and neither is summed with the other.
The nearest references bracket the close. In the review’s interpretation, a cash close between the 7,300 put-side base and the 7,500 resistance places the contract inside the dataset’s nearest pair of references, with the flip level and the threshold well overhead. Gamma is a damping lens. It carries no direction of its own.
The trade map for Monday
The primary setup for Monday, November 9, is a short from 7,465 to 7,475. The contract settled beneath every settlement average, beneath the 200-day for a second session. The composite moved to 88 percent sell with direction strongest, and negative direction leads on both directional systems. Now the geometry. The whole band sits above Friday’s settle, its bottom 63.00 points up and its top 73.00 up. So the short asks for a rebound first. Friday’s 7,469.00 high and Pivot R1 at 7,473.25 both sit inside the band, R1 just 1.75 beneath its top. The stop at 7,497 sits 22.00 above the band, 15.49 above the 7,481.51 stall of the 14-day %K line and 28.14 beneath the 7,525.14 conversion of the 7,500 resistance. Targets step down. The first, 7,443, sits 8.25 beneath the 7,451.25 close of the 9:30 AM ET bar and 41.00 above the settle. The second, 7,416, sits 5.70 beneath the 7,421.70 stochastic projection, still 14.00 above the settle. Only the extended 7,389 sits beneath the settle, 13.00 down and 8.75 beneath the Pivot Point at 7,397.75. The evidence against is plain. In the review’s words, oscillators are stretched after the week’s decline and a rebound can run through the band at the cash open. The review calls the setup an analyst judgment that rebounds into Pivot R1 are sold. No measured edge stands behind it.
Now the arithmetic. From the 7,470 midpoint the risk to the stop is 27 points, 21.7 percent of the 14-day average true range of 124.31. The targets sit 27, 54 and 81 points beneath the midpoint. Exact multiples. From the settle the midpoint sits 68.00 points higher, the rebound the setup needs. The invalidation line, Pivot R2 at 7,544.50, sits 47.50 above the stop.
The session bands are the review’s analyst judgment. Globex halted at 5:00 PM ET on Friday and reopens at 6:00 PM ET on Sunday, November 8, after two days of weekend headline risk. Gap references run both ways. Above sit the 200-day average at 7,439.25, Friday’s 7,469.00 high and Pivot R1 at 7,473.25. Beneath sit the Pivot Point at 7,397.75, the 7,325.14 conversion of the 7,300 base and Friday’s 7,322.25 low. For the night session, 6:00 PM ET Sunday to 3:00 AM ET Monday, the bias is neutral to lower beneath the 200-day average, with a band of roughly 7,340 to 7,450. That band tops out 15.00 beneath the setup band and 10.75 above the 200-day average. Chinese inflation data at 8:30 PM ET on Sunday is listed by the news-feed calendar, unconfirmed.
London, 3:00 AM to 8:00 AM ET, carries a neutral bias around the Pivot Point at 7,397.75 and runs roughly 7,350 to 7,445, topping out 20.00 beneath the band bottom. A European investor confidence survey at 4:30 AM ET is listed by the news-feed calendar, unconfirmed. So are remarks by Federal Reserve officials at 8:40 AM ET and 10:00 AM ET on Monday. In the review’s judgment the 9:30 AM ET cash open is the first directional test between the 7,300 base and the 7,500 resistance. Wholesale trade data is scheduled for 10:00 AM ET on Monday, November 9, as the calendar lists it.
The morning band, 9:30 AM to 12:00 PM ET, runs roughly 7,330 to 7,480. The setup band sits near its top. The afternoon band, 12:00 PM to 4:00 PM ET, runs roughly 7,330 to 7,470, its top inside the setup band, ahead of Tuesday’s inflation data. Two listings sit in between. A consumer inflation-expectations survey at 11:00 AM ET and a three-year note auction at 1:00 PM ET are listed by the news-feed calendar, unconfirmed. Tuesday comes next. The Monday evening session carries into the consumer price index, scheduled for 8:30 AM ET on Tuesday, November 10, as the calendar lists it. The producer price index follows at 8:30 AM ET on Friday, November 13, as the calendar lists it.
The scenario ranges, also analyst judgment, run 7,350 to 7,445 for the low-range case, 7,320 to 7,480 for the mid-range case, the most likely, and 7,270 to 7,530 for the high-range case. The low-range case tops out 20.00 beneath the band bottom. The mid-range top sits 5.00 above the band and 17.00 beneath the stop. Only the high-range case reaches past the stop, by 33.00.
Three paths, ranked. In the review’s analyst judgment the most probable path holds the contract between Pivot S1 at 7,326.50 and Pivot R1 at 7,473.25. In the same judgment, a rebound toward the 7,439.25 to 7,473.25 band that stalls beneath Pivot R1 is weighted above a recovery through it. That is our base case. The review weighs it that way because the composite moved to 88 percent sell from 72 percent sell with direction strongest. Negative direction leads on both directional systems, and the settle sits beneath every settlement average. Against that, in the review’s interpretation, the 9-day relative strength reading of 31.06 and Friday’s higher settle describe a contract stretched after the week’s decline, which favours a rebound attempt that is sold over an immediate extension lower. The second scenario is a settle above Pivot R2 at 7,544.50. It would invalidate the reading, clear the 7,525.14 conversion of the 7,500 resistance and could bring the 7,616.14 flip-level conversion into play. The third runs lower first. A reopen beneath Pivot S1 at 7,326.50 could bring Friday’s 7,322.25 low and one standard deviation support at 7,260.07 into play without the rebound the setup needs. A deeper correction toward the 7,125.14 conversion of the 7,100 support is the worst-case scenario in the review’s judgment.
Friday’s rebound reached 7,469.00 and faded to the settle; Monday’s band starts 4.00 points beneath that high.
The complete data picture
Every number behind Monday’s plan, charted first, then the full level lists, then the complete numeric reference underneath.
Full numeric reference, every remaining figure from the session review
1. Executive Summary
The December S&P 500 contract settled at 7,402.00 on Friday, up 19.00 or 0.26 percent from Thursday's settle of 7,383.00, after trading between 7,469.00 and 7,322.25, a 146.75 point daily range. The settle finished at 54.3 percent of the range, and the range was 1.15 multiples of the 14-day average daily range of 127.25 points. Friday printed a lower high, 269.75 beneath Thursday's 7,738.75, and a lower low, 23.75 beneath Thursday's 7,346.00, yet settled higher. The 7,322.25 low is the one-month and 13-week low published by the provider, and the lowest low in the December contract's record since the 7,315.50 low of 05/04/26, a thinly traded early row. Over the week the contract fell 212.00 from the 7,614.00 settle of 10/30/26, a decline of 2.78 percent.
The low came at the Thursday evening reopen and the high in the first cash bar. The contract reached 7,322.25 in the 6:00 PM ET bar on Thursday, the 9:30 AM ET bar rose 56.75 and made the 7,469.00 high, and the cash hours then held between 7,392.00 and 7,469.00 before the 3:30 PM ET bar fell 25.25 to 7,400.00. The S&P 500 cash index closed at 7,376.86, up 0.31 percent, the Nasdaq-100 rose 1.35 percent and the semiconductor index 4.21 percent, while the Dow Jones Industrial Average fell 0.46 percent. The press wrap carried by the news feed described chipmakers rebounding as dip buyers returned despite bets on a Federal Reserve rate increase; that is attributed commentary, and the series does not establish that any single report caused a particular move.
The volatility index closed at 25.64, down 9.01 percent, the ten-year yield index closed at 4.86 percent, up three basis points, and the dollar index rose 0.74 percent to 102.30 after payrolls of 165 thousand against a forecast of 70 thousand, per the news-feed calendar. The settle sits beneath every settlement average from the 5-day to the 200-day, the second consecutive settle beneath the 200-day average at 7,439.25.
The composite multi-indicator read published for the Friday session is "88% SELL" with strength "Maximum" and direction "Strongest", against "72% SELL" a session earlier. The primary setup is a short from the 7,465 to 7,475 band, around Friday's 7,469.00 high and with Pivot R1 at 7,473.25 inside the band, stopped at 7,497, with objectives at 7,443, 7,416 and an extended 7,389. Two days of weekend headline risk separate Friday's settle from the Sunday reopen at 6:00 PM ET.
2. Price Action & Technical Structure
2.1 Intraday and Session Review
The Friday session opened at 7,359.00 at the Thursday 6:00 PM ET reopen, 24.00 beneath Thursday's settle, and the 30-minute series of the December contract places the low of 7,322.25 in the 6:00 PM ET bar on Thursday and the high of 7,469.00 in the 9:30 AM ET bar on Friday. The 7:00 PM ET bar rose 35.25, from 7,350.75 to 7,386.00. Between the 6:00 PM ET reopen and 3:00 AM ET the bars held between 7,322.25 and 7,417.00 and closed that window at 7,383.25; the 2:00 AM ET bar fell 25.50, from 7,386.25 to 7,360.75, the largest decline of any 30-minute bar in the session.
From 3:00 AM ET to the 9:30 AM ET cash open the contract traded between 7,377.00 and 7,427.25, with the 9:00 AM ET bar closing that window at 7,394.50. The 8:30 AM ET bar, which carried the employment report, traded between 7,378.00 and 7,404.75 and closed at 7,394.75. The 9:30 AM ET bar rose 56.75 to 7,451.25 and made the 7,469.00 high, the largest gain of any 30-minute bar in the session. Across the cash hours, from 9:30 AM ET to 4:00 PM ET, the bars held between 7,392.00 and 7,469.00; the 12:30 PM ET bar fell 24.50 to 7,416.50 and the 3:30 PM ET bar fell 25.25 to 7,400.00, 2.00 beneath the 7,402.00 settle. After the cash close the 4:30 PM ET bar closed at 7,404.00.
On a Friday evening Globex stays closed until the Sunday reopen, so the provider's overview page for Friday carries the completed Friday session itself, with an open of 7,359.00, a high of 7,469.00 and a low of 7,322.25. The completed range is still checked against the published pivot ladder. Pivot R3 at 7,620.00 minus Pivot S3 at 7,179.75, divided by three, returns 146.75, and Pivot R2 at 7,544.50 minus Pivot S2 at 7,251.00, divided by two, returns the same 146.75. Three times the Pivot Point of 7,397.75 less the 7,402.00 settle gives a high plus low sum of 14,791.25, which solves to a high of 7,469.00 and a low of 7,322.25; that pair reproduces all seven published rungs. These are the completed-session inputs behind the published pivot ladder rather than an independently read bar, and they are corroborated by the provider's settlement row and the chart's completed daily bar, which carry the same 7,359.00 open, 7,469.00 high, 7,322.25 low and 7,402.00 settle.
2.2 Daily Structure
Friday printed a lower high and a lower low against Thursday but settled 19.00 higher, inside the lower half of Thursday's 392.75 point range. Settlements over the last six sessions read 7,614.00, 7,574.50, 7,596.75, 7,720.50, 7,383.00 and 7,402.00, so Friday's gain recovered 19.00 of the 337.50 points lost on Thursday. Over five sessions the contract is down 212.00 from the 7,614.00 settle of 10/30, which the provider also publishes as a 2.78 percent five-day change.
The provider publishes 7,905.00 as the 52-week and 13-week high and 7,887.00 as the one-month high, and Friday's 7,322.25 low as the one-month and 13-week low; the 52-week low is 6,466.00. The Friday settle sits 46.70 above the 7,355.30 level published as the 61.8 percent retracement from the 52-week low and 63.69 above the 7,338.31 published target price.
2.3 4-Hour and Swing Structure
Daily ranges for the last ten sessions, from 10/26, ran 87.75, 73.00, 69.25, 64.25, 154.75, 123.00, 77.75, 256.25, 392.75 and 146.75, so Friday's range was well beneath Thursday's and above the 14-day average daily range. In the 30-minute series the largest gains came in the 9:30 AM ET bar, 56.75, and the 7:00 PM ET bar, 35.25, and the largest declines in the 2:00 AM ET bar, 25.50, the 3:30 PM ET bar, 25.25, and the 12:30 PM ET bar, 24.50.
Friday's 7,469.00 high sits 269.75 beneath Thursday's 7,738.75 and 436.00 beneath the 7,905.00 52-week high. The published grid places the 38.2 percent retracement from the four-week low at 7,537.98 and the 50 percent retracement of the 52-week range at 7,185.50.
2.4 Moving Averages
The averages cited here were computed from the provider's daily settlement series for the December contract, which holds 260 completed sessions from 10/28/25 through Friday, and each average is carried at full precision and rounded once to the quarter point. The 200-day window includes 27 zero-volume rows from the contract's thinly traded early months, which carry quoted settlement prices; the 200-day figure is computed as published and carries that limitation. The 5-day average stands at 7,535.25, the 9-day at 7,620.75, the 20-day at 7,696.75, the 50-day at 7,734.50, the 100-day at 7,698.75 and the 200-day at 7,439.25.
The 7,402.00 settle sits 133.25 beneath the 5-day average, 218.75 beneath the 9-day, 294.75 beneath the 20-day, 332.50 beneath the 50-day, 296.75 beneath the 100-day and 37.25 beneath the 200-day. It is the second consecutive settle beneath the 200-day average. The 5-day average fell from Thursday's 7,577.75 as Friday's settle replaced the 10/30 settle of 7,614.00, and the 200-day average rose from 7,437.75.
The 20-day average sits beneath the 50-day because the 30 older settlements in the 50-day window averaged higher, at 7,759.75. The 50-day sits above the 100-day because the 50 older settlements in the 100-day window averaged lower, at 7,663.25, and the 100-day sits above the 200-day because the 100 older settlements in the 200-day window averaged lower, at 7,179.75. The projection grid gives 7,603.53 as the price at which the 9-day average would be crossed on Monday.
2.5 Oscillator and Trend Readings
The oscillator figures below are as published on the provider's technical page, read at 6:21 PM ET on Friday with Globex closed; they are the provider's readings, and none was computed for this review. The 9-day relative strength reads 31.06, the 14-day relative strength 34.19 and the 20-day relative strength 37.07.
The 9-day and 14-day raw stochastic both read 16.04 percent and the 20-day raw stochastic 14.12 percent, while the 14-day stochastic %K reads 31.27 percent and the 14-day stochastic %D 31.52 percent. The 9-day directional index ADX reads 27.81 with the 9-day +DI at 12.62 and the 9-day -DI at 26.12, and the 14-day directional index ADX reads 21.32 with the 14-day +DI at 13.51 and the 14-day -DI at 25.95, so negative direction leads on both systems. The 9-day historic volatility reads 26.19 percent and the 14-day historic volatility 22.48 percent.
The composite multi-indicator read published for the Friday session is "88% SELL", with signal strength "Maximum" and direction "Strongest". The snapshot history reads "72% SELL" for the prior session, "56% SELL" a week ago and "64% BUY" a month ago. The short horizon group averages "100% SELL", the medium group "100% SELL" and the long group "33% SELL", and the trend composite reads "SELL".
2.6 Volatility and Expected Range
The published 14-day average true range stands at 124.31 points and the 14-day average daily range at 127.25 points; the 9-day average true range is 144.05 with a 9-day average daily range of 150.86, and the 20-day average true range is 112.04 with a 20-day average daily range of 115.24. Friday's 146.75 point range was 1.15 multiples of the 14-day average daily range.
Adding and subtracting the 14-day average true range of 124.31 from the 7,402.00 settle frames Monday between 7,277.69 and 7,526.31. The published standard-deviation bands, built from five settlements, span 7,260.07 to 7,543.93 at one deviation, 7,201.28 to 7,602.72 at two and 7,156.17 to 7,647.83 at three. These bands describe dispersion, not intraday reach, and the weekend adds headline risk that a single-session band does not cover.
3. Key Levels
3.1 Resistance
Above the 7,402.00 settle, the first reference is the 7,421.70 projection for the 20 percent raw stochastic, with the 200-day average at 7,439.25 above it. Friday's 7,469.00 high, Pivot R1 at 7,473.25 and the 7,481.51 stall of the 14-day %K line form the next band, with the 7,525.14 conversion of the dealer-positioning SPX 7,500 resistance above them. Pivot R2 at 7,544.50, one standard deviation resistance at 7,543.93 and the 7,616.14 conversion of the SPX 7,591 flip level are the extended references.
3.2 Support
Beneath the settle sits the Pivot Point at 7,397.75, with the 7,355.30 retracement from the 52-week low and the 7,338.31 published target price beneath it. Pivot S1 at 7,326.50, the 7,325.14 conversion of the SPX 7,300 put side support base and Friday's 7,322.25 low form the next band. One standard deviation support at 7,260.07 and Pivot S2 at 7,251.00 follow, with the 7,125.14 conversion of the dataset's SPX 7,100 support and the 7,025.14 conversion of the SPX 7,000 key strike as the deeper references.
4. Macro Drivers
4.1 Dollar, Rates, and Federal Reserve Policy
The employment situation report was released at 8:30 AM ET on Friday, November 6, 2026, as the calendar lists it, with payrolls of 165 thousand against a forecast of 70 thousand, an unemployment rate of 4.1 percent against a forecast of 4.2 percent and average hourly earnings up 0.4 percent on the month against a forecast of 0.3 percent, per the news-feed calendar. The ten-year yield index closed at 4.86 percent, up three basis points, and the dollar index rose 0.74 percent to 102.30. The news feed carried in the early afternoon remarks from a Federal Reserve official that services inflation was not coming down as expected; these are remarks carried by the feed. The contract rose while yields rose, and no series in the review separates the effects.
4.2 Large-Cap Leadership and Earnings
The news feed carried items on artificial-intelligence spending through the session: at 12:36 PM ET a report that a large software company was winding down an agreement to rent artificial-intelligence computing capacity from a database company, and at 3:59 PM ET a report that an artificial-intelligence developer had closed an 11 billion dollar funding round at a 1.25 trillion dollar valuation. At 10:55 AM ET the news feed carried the head of an international financial institution saying market volatility tied to artificial intelligence was likely to continue. These are reports and remarks carried by the feed. The calendars carry no mega-cap earnings entry for Monday.
4.3 Geopolitical Backdrop
A tentative diplomatic meeting on Russia and Ukraine is listed for Tuesday, November 10, 2026, per the news-feed calendar, unconfirmed.
4.4 Sector Breadth and Rotation
The semiconductor index rose 4.21 percent and the Nasdaq-100 cash index 1.35 percent, against the S&P 500's 0.31 percent and a 0.46 percent decline in the Dow Jones Industrial Average. The press wrap carried by the news feed described dip buyers returning to semiconductor shares, and the provider's commentary said weakness in software shares limited Friday's gains; both are attributed commentary. Sector-level returns beyond these indexes are not part of the review's primary series.
4.5 Cross-Asset and Volatility
The volatility index closed at 25.64, down 9.01 percent on the session. December crude rose 0.34 percent and gold fell 0.94 percent. The cash basis, the settle less the S&P 500 cash close of 7,376.86, is 25.14 points, against 29.27 on Thursday; both legs are completed-session daily records from the provider, read at 6:19 PM ET.
4.6 Institutional Positioning
The weekly positioning report for the week to Tuesday, November 3, 2026 was released after the close; the index feed's item said equity fund speculators trimmed their S&P 500 net short position to 345,246 contracts, a reduction of 27,501, which is the figure as published and was not recomputed. Friday's December volume was 1,877,813 contracts against 3,542,881 on Thursday, per the settlement record.
5. SPX Options Flow Context
The dealer-positioning dataset read for this section, the edition timed 5:21 PM ET on Friday, uses Thursday's closes as its reference prices, not Friday's: SPX 7,353 sits 0.73 beneath Thursday's 7,353.73 cash close and NDX 26,629 sits 0.81 beneath Thursday's 26,629.81. Thursday's 7,353.73 plus 23.13 points, a 0.31 percent gain, gives the provider's 7,376.86 Friday close, and every level below is read against that close.
On the index the primary call side ceiling sits at SPX 8,100, the modeled volatility threshold at SPX 7,675, the modeled gamma-flip level at SPX 7,591, the primary put side support base at SPX 7,300 and the largest gamma concentration at SPX 7,000. The close sits 723.14 points beneath the ceiling, 298.14 beneath the threshold and 214.14 beneath the flip level, and 76.86 above the put side base and 376.86 above the largest concentration. Gamma tilt reads 0.653, gamma notional minus 1.317 billion dollars and the dataset's gamma index minus 4.721, with an implied one-day move of 0.53 percent, an implied five-day move of 1.48 percent and a 25-delta risk reversal of minus 0.096. The dataset's summary lists resistance at 7,500, its dealer-positioning pivot at 7,690 and support at 7,100, and its key strikes are SPX 7,000, 8,000, 7,500 and 7,700. These levels were computed from Thursday's closes, and the dataset does not state how they shifted during Friday's session.
The dataset publishes its own December futures pair for each level, carrying the source's 30.70 point offset and not the measured 25.14 point basis: the ceiling at 8,130.70, the modeled volatility threshold at 7,705.70, the modeled gamma-flip level at 7,621.70, the put side support base at 7,330.70 and the largest concentration at 7,030.70. These are quoted as the source's pairs. The modeled threshold and flip level are model outputs, not option strikes. At the measured basis the SPX 7,000 key strike converts to 7,025.14, the SPX 7,100 support to 7,125.14, the SPX 7,300 base to 7,325.14, the SPX 7,500 resistance to 7,525.14, the SPX 7,591 flip level to 7,616.14 and the SPX 7,675 threshold to 7,700.14.
The S&P 500 positioning console, read at 6:18 PM ET, carried Thursday's 7,353.73 as its previous close and a console price of 7,382.65, up 0.39 percent, which is a console reading rather than Friday's cash close. It shows call gamma of 424.76 million against put gamma of minus 5.74 billion, call volume of 1.38 million against put volume of 1.88 million, which says nothing about direction, one-month implied volatility of 20.28 percent against realised volatility of 20.18 percent, an implied-volatility rank of 64.16 percent, a skew rank of 5.93 percent and a put-to-call open-interest ratio of 1.34.
In this review's interpretation a cash close between the SPX 7,300 put side base, 76.86 points beneath, and the SPX 7,500 resistance, 123.14 points above, places the contract inside the dataset's nearest pair of references, with the flip level and the threshold well overhead. The primary setup sells a rebound toward Pivot R1 at 7,473.25, beneath the 7,525.14 conversion of the SPX 7,500 resistance. Statements in the dataset about the order of intraday moves are not used; the session path in section 2.1 comes from the 30-minute futures series.
6. Forecast
6.1 Night Session (6:00 PM ET Sunday to 3:00 AM ET Monday, Globex/Asia)
Globex halted at 5:00 PM ET on Friday and reopens at 6:00 PM ET on Sunday, November 8, 2026, so two days of weekend headline risk separate Friday's settle from the reopen. Gap references run both ways: above, the 200-day average at 7,439.25, Friday's 7,469.00 high and Pivot R1 at 7,473.25; beneath, the Pivot Point at 7,397.75, the 7,325.14 conversion of the SPX 7,300 base and Friday's 7,322.25 low. Chinese inflation data at 8:30 PM ET on Sunday is listed by the news-feed calendar, unconfirmed. Bias neutral to lower beneath the 200-day average, expected band roughly 7,340 to 7,450.
6.2 London Session (3:00 AM to 8:00 AM ET Monday)
A European investor confidence survey at 4:30 AM ET on Monday is listed by the news-feed calendar, unconfirmed. Bias neutral around the Pivot Point at 7,397.75, expected band roughly 7,350 to 7,445.
6.3 Morning Session (9:30 AM to 12:00 PM ET Monday, RTH Open)
In the review's judgment the cash open at 9:30 AM ET is the first directional test between the SPX 7,300 base and the SPX 7,500 resistance, and wholesale trade data is scheduled for 10:00 AM ET on Monday, November 9, 2026, as the calendar lists it. Remarks by Federal Reserve officials at 8:40 AM ET and 10:00 AM ET on Monday are listed by the news-feed calendar, unconfirmed. Expected band roughly 7,330 to 7,480, with the 7,465 to 7,475 setup band near the top.
6.4 Afternoon Session (12:00 PM to 4:00 PM ET Monday)
A three-year note auction at 1:00 PM ET on Monday is listed by the news-feed calendar, unconfirmed. Expected band roughly 7,330 to 7,470 ahead of Tuesday's inflation data.
6.5 Night Session Forward (6:00 PM ET Monday)
The Monday evening session carries into the consumer price index scheduled for 8:30 AM ET on Tuesday, November 10, 2026, as the calendar lists it.
6.6 Expected Range (Monday Full Session)
Low-range scenario: 7,350 to 7,445
Mid-range scenario (most likely): 7,320 to 7,480
High-range scenario: 7,270 to 7,530
6.7 Most Likely Path
In this review's analyst judgment, the most probable path holds the contract between Pivot S1 at 7,326.50 and Pivot R1 at 7,473.25, with a rebound toward the 7,439.25 to 7,473.25 band that stalls beneath Pivot R1 weighted above a recovery through it. The composite moved to "88% SELL" from "72% SELL" with direction "Strongest", negative direction leads on both directional systems and the settle sits beneath every settlement average, while the 9-day relative strength reading of 31.06 and Friday's higher settle describe a contract that is stretched after the week's decline, which in this review's interpretation favours a rebound attempt that is sold rather than an immediate extension lower.
The alternative that would invalidate this reading is a settle above Pivot R2 at 7,544.50, which would clear the 7,525.14 conversion of the SPX 7,500 resistance and bring the 7,616.14 flip-level conversion into play. On the other side, a reopen beneath Pivot S1 at 7,326.50 would bring Friday's 7,322.25 low and one standard deviation support at 7,260.07 into play without the rebound the setup needs; a deeper correction toward the 7,125.14 conversion of the SPX 7,100 support is the worst-case scenario in this review's judgment.
7. Monday Economic Calendar
Friday's releases are complete. The employment situation report was released at 8:30 AM ET on Friday, November 6, 2026, as the calendar lists it, with payrolls of 165 thousand against a forecast of 70 thousand and an unemployment rate of 4.1 percent against a forecast of 4.2 percent, per the news-feed calendar. Remarks by the Federal Reserve's Vice Chair for Supervision were scheduled for 12:15 PM ET and consumer credit for 3:00 PM ET on Friday, November 6, 2026, as the calendar lists them, and consumer credit rose 27.84 billion dollars against a forecast of 13.8 billion, per the news-feed calendar.
Over the weekend, Chinese inflation data at 8:30 PM ET on Sunday, November 8, 2026 is listed by the news-feed calendar, unconfirmed. On Monday, November 9, 2026, wholesale trade data is scheduled for 10:00 AM ET, as the calendar lists it; remarks by Federal Reserve officials, a consumer inflation-expectations survey at 11:00 AM ET and a three-year note auction at 1:00 PM ET are listed by the news-feed calendar, unconfirmed. The calendars carry no mega-cap earnings entry for Monday.
Later in the week, the consumer price index is scheduled for 8:30 AM ET on Tuesday, November 10, 2026 and the producer price index for 8:30 AM ET on Friday, November 13, 2026, both as the calendar lists it. In this review's judgment the first-order event for the S&P 500 on Monday is the cash open at 9:30 AM ET between the SPX 7,300 base and the SPX 7,500 resistance, with Tuesday's inflation data the first scheduled test of rate expectations.
8. Primary Trade Setup
Direction: Short
Rationale: The contract settled beneath every settlement average, beneath the 200-day for a second session, the composite moved to "88% SELL" with direction "Strongest" and negative direction leads on both directional systems, while Friday's rebound left a lower high at 7,469.00. A rebound into the 7,465 to 7,475 band, around Friday's high and with Pivot R1 at 7,473.25 inside it, offers a short with a defined risk point above the 7,481.51 stall of the 14-day %K line, beneath the 7,525.14 conversion of the SPX 7,500 resistance. Oscillators are stretched after the week's decline and a rebound can run through the band at the cash open, so the setup is an analyst judgment that rebounds into Pivot R1 are sold, not a measured edge.
Entry Zone: 7,465 to 7,475
Stop Loss: 7,497 (above Pivot R1 at 7,473.25 and the 7,481.51 stall, beneath the 7,525.14 conversion)
Target 1 (T1): 7,443 (beneath the 7,451.25 close of the 9:30 AM ET bar)
Target 2 (T2): 7,416 (beneath the 7,421.70 projection for the 20 percent raw stochastic)
Target 3 (T3, extended): 7,389 (beneath the Pivot Point at 7,397.75)
Risk-to-Reward: Approximately 1:1 to T1, 1:2 to T2, 1:3 to T3
Invalidation: A settle above Pivot R2 at 7,544.50 negates the thesis. Short of that, the edge is removed by acceptance above the entry band, defined as two consecutive 30-minute closes above 7,475; a touch alone does not remove it.
Macro override: A weekend report that eases concern over artificial-intelligence spending, or a further rebound in semiconductors, would lift the contract. In that scenario a move through the 7,497 stop invalidates the short before the targets, and the 7,525.14 conversion of the SPX 7,500 resistance becomes the reference, 28.14 beyond the stop and well inside one 14-day average true range of 124.31.
Sources and methodology
This outlook is built from our session review of the December E-mini S&P 500 contract, the December ’26 contract, prepared after Friday’s close on November 6, 2026 for the Monday, November 9, 2026 session. Friday’s completed extremes are the inputs behind the published pivot ladder: Pivot R3 at 7,620.00 less Pivot S3 at 7,179.75, divided by three, and Pivot R2 at 7,544.50 less Pivot S2 at 7,251.00, divided by two, both return 146.75, and three times the 7,397.75 Pivot Point less the settle gives a high-plus-low sum of 14,791.25, which the pair of 7,469.00 and 7,322.25 reproduces. The provider’s settlement row and the chart’s completed Friday daily bar carry the same 7,359.00 open, 7,469.00 high, 7,322.25 low and 7,402.00 settle. Those figures, the 30-minute bars of the December contract from the Thursday 6:00 PM ET reopen and the review’s own statements are the only evidence used to grade Friday’s card, which was set at Thursday’s settle and covers the whole session. Times of day come from the bars and are Eastern time. Thursday’s volume now reads 3,542,881 contracts on the revised 2026-11-05 row, which replaces the preliminary 3,349,999 carried in Friday’s outlook, and that row’s open interest reads 2,017,335; that post was not changed. Friday’s open interest was not yet reported.
The moving averages were computed from the provider’s 260-session daily settlement series through Friday and rounded once to the 0.25 tick. The oscillators, directional readings, historic volatility and range averages are cited as published, read at 6:21 PM ET on Friday with Globex closed. The dealer-positioning dataset uses Thursday’s closes as its reference prices and a fixed 30.70 point translation for its futures column, so cash equivalents here use the 25.14 point basis measured on Friday, settlement against cash close. The dataset’s statements about the order of intraday moves are not used. The dataset’s gamma figures and the console’s call and put gamma are separate model measures from different timestamps; they are shown side by side, each with its source, and never combined. Company and institution items are described generically. Scenario ranges are analyst judgment. Items marked unconfirmed come from the news-feed calendar or the news feed, and every catalyst whose release time had passed at the time of writing is recorded as completed.
Friday’s outlook for this contract is here, and the Nasdaq-100 contract’s Friday outlook set the levels for the index whose cash close rose 1.35 percent on Friday. Outlooks for ES, NQ, GC and CL are collected on the market outlook page, and our forward trading record is on the performance statement.
Tuesday’s follow-up outlook for S&P 500, written after Monday’s close, is here.
