Archive / London session

London Open Briefing — Fri, Aug 21

      Published August 21, 2026 · London session open · ES & NQ futures, translated to SPY/QQQ
    

Bearish structure 17/100

Tone

Price action into the European session shows pronounced short-term weakness, with consecutive red candles driving index futures to the lower boundary of their visible range. ES has steadily slipped from the 7,676 peak toward the 7,660 area, while NQ has similarly rolled over from highs near 29,340 back toward 29,280. The immediate bias leans down as price tests session lows.

Key levels — futures & ETF equivalents

      ES overnight swing high
      7676.00 (SPY ~$767.60)
    

      ES current session low
      7660.75 (SPY ~$766.10)
    

      NQ overnight swing high
      29340.00 (QQQ ~$715.60)
    

      NQ session low support
      29240.00 (QQQ ~$713.15)
    

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

Flash Manufacturing and Services PMI prints across France and Germany headline the early European session, followed by UK Retail Sales. These releases may dictate whether current downside momentum extends or stabilizes ahead of US pre-market trading.

News backdrop: Neutral · 42 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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