Archive / London session

London Open Briefing — Fri, Sep 4

      Published September 4, 2026 · London session open · ES & NQ futures, translated to SPY/QQQ
    

Leaning bullish 67/100

Tone

Futures are consolidating near new session highs following yesterday's vertical expansion, showing tight drift rather than aggressive pullbacks. Both ES and NQ are holding well above their prior breakout thresholds, reflecting a constructive tone with muted overnight activity. Structural momentum remains pointed upward, though participation is compressed heading into the European morning.

Key levels — futures & ETF equivalents

      ES breakout shelf support
      7750.00 (SPY ~$775.00)
    

      ES prior swing high
      7690.00 (SPY ~$769.00)
    

      NQ overnight high resistance
      29640.00 (QQQ ~$722.90)
    

      NQ breakout shelf support
      29540.00 (QQQ ~$720.50)
    

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 European morning prints including GBP Construction PMI and BOE Governor Bailey's speech at 04:50 ET, followed by key North American employment data at 08:30 ET.

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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