Archive / London session

London Open Briefing — Wed, Aug 26

      Published August 26, 2026 · London session open · ES & NQ futures, translated to SPY/QQQ
    

Balanced 50/100

Tone

Price action across both ES and NQ has stabilized in a compressed consolidation band following the rebound from the Aug 24 lows. The tape is leaning slightly constructive in the short term with a series of minor higher lows, but upside remains capped beneath the prominent swing highs from earlier in the week. Expect a measured pace leading into major morning economic data.

Key levels — futures & ETF equivalents

      ES breakdown resistance
      7715 (SPY ~$771.50)
    

      ES range support
      7660 (SPY ~$766.00)
    

      NQ resistance ceiling
      29460 (QQQ ~$718.50)
    

      NQ base support
      28950 (QQQ ~$706.10)
    

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

Catalysts are centered on the 08:30 EDT Core PCE Price Index print, which serves as the primary high-impact economic driver for the upcoming US session.

News backdrop: Neutral · 40 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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