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US Open Briefing — Tue, Aug 18

      Published August 18, 2026 · US session open · ES & NQ futures, translated to SPY/QQQ
    

Bearish structure 0/100

Tone

Futures are trading with a heavy downward tone into the open, pressing into the lower end of the visible range. ES has made a persistent sequence of lower highs and lower lows, slipping below 7,780, while NQ has similarly retraced sharply from the 30,280 peak back toward prior range lows. The structure remains tilted downward as sellers maintain continuous pressure against the session lows.

Key levels — futures & ETF equivalents

      ES breakdown level
      7800.00 (SPY ~$780.00)
    

      ES prior lower high
      7780.00 (SPY ~$778.00)
    

      NQ shelf support
      30080.00 (QQQ ~$733.65)
    

      NQ swing high
      30280.00 (QQQ ~$738.50)
    

Positioning views

SPY premarket levels QQQ premarket levels ES overnight levels NQ overnight levels

Market Structure Academy

Market Profile POC VAH VAL Overnight inventory Failed auction Overnight high/low Previous close

On the calendar

The session carries a light macro economic calendar with primarily European sentiment data behind us and no major top-tier US data releases scheduled for the morning. Market movement remains driven by overnight headlines regarding Middle East developments and rising yields.

News backdrop: Somewhat-Bullish · 20 macro headlines, last 24h (Alpha Vantage)

Published as it was generated, exactly as delivered to subscribers at the time — not edited or curated after the fact. Informational commentary only, not trade signals or personalized financial advice. New terms? See the glossary.

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