Archive / London session

London Open Briefing — Fri, Oct 16

      Published October 16, 2026 · London session open · ES & NQ futures, translated to SPY/QQQ
    

Leaning bearish 25/100

Tone

Both ES and NQ show an overnight pullback on the 15-minute chart following a steady multi-session rebound off the October 15 lows. Price action has pulled into the lower half of the immediate session range after stalling near the key round resistance thresholds at ES 7,800 and NQ 30,200. Overall structure leans mildly defensive into the European open as the intraday tape digests the sharp drop seen earlier in the week.

Key levels — futures & ETF equivalents

      ES immediate resistance
      7800.00 (SPY ~$780.00)
    

      ES session support
      7720.00 (SPY ~$772.00)
    

      NQ immediate resistance
      30200.00 (QQQ ~$736.59)
    

      NQ multi-day base
      29600.00 (QQQ ~$721.95)
    

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

European inflation data headlines the morning with Final Core CPI and CPI scheduled at 05:00 EDT, followed by regional trade balance data. These macro releases may dictate whether morning equity index futures can stabilize or extend the overnight pullback.

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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