Day-Trading Scenarios for Nov 02, 2026

YM Morning Report — Monday, November 2, 2026

Prior Session Recap (Friday, Oct 30)

YM made its session high of 52662 at 5:04 am ET and sold off from there for the rest of the day. The day session opened at 52399. A first-minute high of 52421 gave way to a drop to 52266 by 9:40, a 155-point opening range. Sellers stayed in control all day: 52135 by 10:30, 51993 by 1:00 pm, and the session low of 51701 at 2:53 pm. A late short-covering bounce lifted YM to settle at 51918. The full session ranged 961 points.

October ended with a sharp sell-off. The cash Dow fell 572 points (−1.1%) to 51,770.31, the S&P 500 lost 1.8%, its worst day since June, and the Nasdaq dropped 2.9%. Intel fell almost 29%, its worst day since 1974, and Amazon’s results deepened worries about AI spending. For the week, the Dow lost 0.9% and the Nasdaq 2%.

YM reopened Sunday evening at 52002, held a low of 51970 at 6:05 pm, and climbed steadily overnight. It jumped to 52337 at 8:39 am and is now at 52271.

Fundamental Picture

Oil is the story this morning. WTI is down about 4% to just under $100 and Brent is down about 4% to near $109. Secretary of State Marco Rubio said President Trump prefers negotiations with Iran to further military action, and Iran signaled that a deal is still possible after two days of talks mediated by Qatar. Cheaper oil eases the inflation pressure that has kept a December Fed hike on the table. Stock futures are rebounding from Friday’s sell-off: Dow futures up about 0.5%, S&P 500 up about 0.5% and Nasdaq up about 0.8%. Manufacturing data out of Europe and the U.K. was firm.

Tomorrow’s midterm elections are the main event risk. There are reports that both the U.S. and Iran may prepare for possible military action after the vote, so today’s oil relief could prove fragile. Earnings continue this week with Apple and McDonald’s (both Dow components) along with AMD, Palantir, Qualcomm, Pfizer and Uber. The October jobs report comes Friday. Expect a relief bounce after last week’s losses, but traders are unlikely to commit heavily before the election results.

Technical Picture

Daily pivot: (52662 + 51701 + 51918) ÷ 3 = 52094

Level Price

R3 54016

R2 53055

R1 52487

Pivot 52094

S1 51526

S2 51133

S3 50172

Key references

Reference Price

Overnight high 52337

15-minute 20 SMA ≈52182

60-minute 20 SMA ≈52084 (near the pivot)

London starting price / Sunday open 52002

Overnight low 51970

60-minute chart: The 5 SMA (≈52198) is above the 20 SMA (≈52084). Trend is up.

15-minute chart: The 5 SMA (≈52207) is above the 20 SMA (≈52182). Trend is up.

Bias: Both timeframes are aligned up and price is about 175 points above the pivot, so the primary bias is long on pullbacks. London traders are long from 52002 with about 335 points of profit, most of it from the 8:39 surge. As they take profits near the NY open, and as the opening stop-run plays out, a dip into 52175–52190, where the 15-minute 20 SMA sits, is the first place to buy. A deeper flush would test 52085–52100, where the pivot and the 60-minute 20 SMA meet. Overhead, the overnight high at 52337 is first resistance, then R1 at 52487. If YM breaks below 52045, the long bias is off.

Trade Plan

Stops stay within 50 points. Management: once a trade is 50 points in profit, move the stop to breakeven, then trail it.

With-trend #1: 15-minute 20 SMA pullback long. Buy a dip into 52175–52190 when the 1-minute stochastic turns up from below 20.

Entry: 52185

Stop: 52135

Target 1: 52337 (overnight high)

Target 2: 52430 (one full Swing Magnitude Factor off the low)

With-trend #2: pivot pullback long. If the opening flush stops out trade #1 and reaches 52085–52100, buy there. This is the strongest support on the chart.

Entry: 52095

Stop: 52045

Target 1: 52245

Target 2: 52340 (one full SMF, back to the overnight high)

Counter-trend: R1 fade short. If YM reaches R1 at 52480–52490, short when the 1-minute stochastic is above 80 and turning down, for the typical ~70-point pullback.

Entry: 52485

Stop: 52535

Target 1: 52415

Target 2: 52345

Swing Magnitude Factor Forecast (9:30–10:00 ET range)

Forecast: 245 points

The overnight range is 367 points, from 51970 at 6:05 pm to 52337 at 8:39 am. If YM breaks above 52337 or below 51970 before the open, add 3 points to the SMF for every 10 points of new range. London’s swing was 335 points up, from 52002 to 52337.

Measured-move targets:

If the opening stop-run bottoms near 52185, one full 245-point swing up projects to 52430, just under R1.

If the flush runs to the pivot near 52095, a full swing up projects to 52340, back to the overnight high.