Archive / London session

London Open Briefing — Mon, Nov 2

      Published November 2, 2026 · London session open · ES & NQ futures, translated to SPY/QQQ
    

Leaning bearish 33/100

Tone

Both ES and NQ remain in a sharp corrective trend lower following aggressive downside gaps, but overnight price action has mounted a modest bounce from local lows. The overall bias is leaning down as long as the market trades underneath the post-gap breakdown zones. Participation heading into the European morning remains measured.

Key levels — futures & ETF equivalents

      ES gap breakdown resistance
      7665.00 (SPY ~$766.50)
    

      ES swing low support
      7560.00 (SPY ~$756.00)
    

      NQ gap breakdown resistance
      28850.00 (QQQ ~$703.65)
    

      NQ overnight low support
      28230.00 (QQQ ~$688.50)
    

Looking for today’s levels?

Today’s free level SPY premarket levels ES overnight levels NQ overnight levels QQQ premarket levels

Positioning views for this session

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 European session slate is light, featuring minor data points such as German Retail Sales and Spanish Manufacturing PMI. Broader sentiment remains tied to ongoing geopolitical developments surrounding oil routes and central bank posture.

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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