S&P 500 futures fall 2.78%; MyAlgoIndex sets Monday short levels

By Olivia Hart

The December E-mini S&P 500 Futures settled at 7,402.00 on Friday, 212.00 points, or 2.78%, below the 7,614.00 settlement on 10/30/26, according to MyAlgoIndex. Its Nov. 9 setup is explicit: “SHORT the December contract from the 7,465 to 7,475 band,” with a stop at 7,497.

Friday's 19.00-point, 0.26% gain recovered only 19.00 points of Thursday's 337.50-point decline, according to MyAlgoIndex. The source recorded lower highs and lows against Thursday and kept its bias lower below Pivot R1 at 7,473.25.

What did Friday's trading show?

MyAlgoIndex reported that December futures traded between 7,469.00 and 7,322.25, a 146.75-point range. The low printed in the 6:00 PM ET bar at Thursday's reopen, while the high came in Friday's 9:30 AM ET bar.

The same source put the cash S&P 500 close at 7,376.86, up 0.31%. Cash trading held between 7,392.00 and 7,469.00 before the 3:30 PM ET bar fell 25.25 points.

MyAlgoIndex also said the 7,322.25 low was both the one-month and 13-week low. The futures settlement landed at 54.3% of the day's range.

Takeaway: Friday softened the loss without reversing the lower-high, lower-low structure, according to MyAlgoIndex.

What diverged from the S&P 500's decline?

MyAlgoIndex reported a 2.78% weekly loss for the December contract, alongside a 1.35% rise in the Nasdaq-100 and a 4.21% gain in the semiconductor index. A news-feed wrap carried by the source described chipmakers rebounding as dip buyers returned despite bets on a Federal Reserve rate increase.

MyAlgoIndex labeled that passage as attributed commentary. The same feed showed the volatility index closing at 25.64, down 9.01%, and the 10-year yield at 4.86%. The dollar index rose 0.74% after payrolls reached 165,000 against a 70,000 forecast, according to the news-feed calendar cited by MyAlgoIndex.

MyAlgoIndex's composite multi-indicator read strengthened to 88% sell from 72% sell, with maximum strength and the strongest direction. The futures settlement sat below every settlement average, including the 7,439.25 200-day average, for a second session.

The source also calculated that the cash close stood 76.86 points above the dealer-positioning put support base at SPX 7,300. It remained 123.14 points below the dataset's SPX 7,500 resistance.

Takeaway: MyAlgoIndex's bearish reading rested on the S&P 500 itself, while gains in chips and a lower volatility reading complicated the case.

Which levels frame Monday's trade?

MyAlgoIndex treats Monday's 9:30 AM ET cash open as the first directional test between the SPX 7,300 base and SPX 7,500 resistance. It expects a rebound toward 7,473.25 to be sold before any extension. Globex reopens at 6:00 PM ET Sunday after two days of weekend headline exposure.

Resistance listed by MyAlgoIndex:

• 7,544.50: Pivot R2 (SPX 7,519.36).
• 7,525.14: Dealer-positioning SPX 7,500 resistance, futures conversion (SPX 7,500.00).
• 7,481.51: 14-day %K stall (SPX 7,456.37).
• 7,473.25: Pivot R1 (SPX 7,448.11).
• 7,469.00: Friday's session high (SPX 7,443.86).
• 7,439.25: 200-day settlement average (SPX 7,414.11).
• 7,421.70: 20% raw stochastic projection (SPX 7,396.56).

Support listed by MyAlgoIndex:

• 7,402.00: Friday's settle (SPX 7,376.86).
• 7,397.75: Pivot Point (SPX 7,372.61).
• 7,338.31: Published target price (SPX 7,313.17).
• 7,330.70: Source's futures pair for the put-side support base (SPX 7,300.00; the source's own pair).
• 7,326.50: Pivot S1 (SPX 7,301.36).
• 7,325.14: Primary put-side support base, futures conversion (SPX 7,300.00).
• 7,322.25: Friday's session low (SPX 7,297.11).
• 7,260.07: One-standard-deviation support (SPX 7,234.93).
• 7,251.00: Pivot S2 (SPX 7,225.86).

Takeaway: The proposed trade first requires a rebound into resistance rather than a direct fall from Friday's settle.

How is the short structured?

MyAlgoIndex centers the short around Friday's 7,469.00 high and beneath Pivot R1 at 7,473.25. The 7,465-7,475 entry band converts to SPX 7,439.86-7,449.86.

The 7,497 stop converts to SPX 7,471.86. MyAlgoIndex places it above Pivot R1 and the 7,481.51 stall, but below the 7,525.14 conversion of SPX 7,500 resistance.

MyAlgoIndex lists three targets:

• 7,443 (SPX 7,417.86): Beneath the 7,451.25 close of Friday's 9:30 AM ET bar.
• 7,416 (SPX 7,390.86): Beneath the 7,421.70 projection for the 20% raw stochastic.
• 7,389 (SPX 7,363.86): Beneath the 7,397.75 Pivot Point.

From the entry midpoint, MyAlgoIndex estimates risk and reward at roughly 1:1, 1:2 and 1:3 to the first, second and third targets. The 14-day average true range is 124.31 points, making the 27-point stop about 22% of that measure.

Takeaway: The trade offers improving reward ratios lower down, but its stop is narrow relative to the index's recent range.

What could break the thesis?

MyAlgoIndex says a settlement above Pivot R2 at 7,544.50 negates the thesis. Two consecutive 30-minute closes above 7,475 remove the edge before the stop is reached.

The source flags a weekend report that eases concern over artificial-intelligence spending, or a further semiconductor rebound, as capable of carrying price through the stop in one move. It also identifies stretched oscillators after the week's decline as the main risk to a short.

MyAlgoIndex calls the conclusion an analyst judgment: “rebounds into Pivot R1 are sold.” Its displayed SPX equivalents use Friday's measured 25.14-point basis, while the source's own paired levels carry a 30.70-point offset. The review does not reconcile the two conversions, so readers should verify the instrument and basis rather than treat futures and cash levels as interchangeable.

Takeaway: The setup has explicit invalidation points, but headline-driven volatility can reach the stop before the technical thesis resolves.

What matters next?

Friday's 7,402.00 settle recovered 19.00 points of Thursday's 337.50-point decline. MyAlgoIndex frames Monday as a test of whether the rebound stalls beneath the 7,439.25-7,473.25 band or the decline resumes through Pivot S1 at 7,326.50 toward the SPX 7,300 base.

Takeaway: For traders following the plan, confirmation requires a failed rebound below 7,473.25, not Friday's modest recovery; the source does not establish which path will prevail.