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US Open Briefing — Fri, Aug 21

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

Bearish structure 0/100

Tone

Both ES and NQ remain in sustained downtrends, continuing to set lower highs and lower lows across the multi-day window. Price is pressing against session lows heading into the open with persistent selling pressure visible across 15-minute candles. The immediate bias is firmly heavy until previous breakdown shelves are contested.

Key levels — futures & ETF equivalents

      ES breakdown level
      7700.00 (SPY ~$770.00)
    

      ES prior lower high
      7750.00 (SPY ~$775.00)
    

      NQ prior breakdown shelf
      29500.00 (QQQ ~$719.50)
    

      NQ overnight low support
      29200.00 (QQQ ~$712.20)
    

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 follows overnight European Flash PMI prints with no major high-impact US economic releases scheduled at the open. Geopolitical news flow around energy and trade continues to provide a cautious background backdrop.

News backdrop: Neutral · 15 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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