{"id":23431,"date":"2026-11-02T13:30:17","date_gmt":"2026-11-02T21:30:17","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=23431"},"modified":"2026-11-02T13:30:17","modified_gmt":"2026-11-02T21:30:17","slug":"ai-nov-3-2026","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/ai-nov-3-2026\/","title":{"rendered":"Your AI and Fed Futures Trading Outlook | November 3rd, 2026"},"content":{"rendered":"\n\n\n
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At A Glance Levels<\/h3>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Instrument<\/th>\nS2<\/th>\nS1<\/th>\nPivot<\/th>\nR1<\/th>\nR2<\/th>\n<\/th>\n<\/th>\n<\/tr>\n<\/thead>\n
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Gold (GC)<\/strong><\/h2>\n

\u2014 Dec. (#GC)<\/td>\n

3850.37<\/td>\n3903.53<\/td>\n3942.17<\/td>\n3995.33<\/td>\n4033.97<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
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Silver (SI)<\/strong><\/h2>\n

\u2014 Dec. (#SI)58.79<\/td>\n

48.11<\/td>\n49.37<\/td>\n50.36<\/td>\n51.62<\/td>\n52.61<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
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Crude Oil (CL)<\/strong><\/h2>\n

\u2014 Dec. (#CL)<\/td>\n

90.36<\/td>\n93.16<\/td>\n97.96<\/td>\n100.76<\/td>\n105.56<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
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\u00a0Dec. Bonds (ZB)<\/strong><\/h2>\n

\u2014 Dec. (#ZB)<\/td>\n

106 23\/32<\/td>\n107 11\/32<\/td>\n107 31\/32<\/td>\n108 19\/32<\/td>\n109 7\/32<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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The Fed Held, the Data Was Strong, and AI Spending Broke the Tape Anyway<\/h2>\n

By Eli Gal Levy, Senior Analyst<\/em><\/h3>\n

\"ai\"<\/p>\n

Is the risk worth the reward at this point? Part 10<\/em><\/span><\/h3>\n

The question I keep getting is not about a level. It’s about whether to be in this market at all. Stay invested while indexes print records, or take a guaranteed yield in short-term paper and sit this out until it works itself out. It sounds like the conservative choice, and it is \u2014 but conservative is not the same as costless. Every decision in this tape charges you something, including the decision to do nothing.<\/p>\n

The Fed Held, the Data Was Strong, and AI Spending Broke the Tape Anyway<\/h2>\n

Week of October 26\u201330, 2026 \u00b7 Cannon Intelligence Desk<\/em><\/h3>\n

Four sessions of grinding gains, then Friday took it all back. The S&P 500 finished the week at 7,580.07, down 0.57%, after falling 1.82% on Friday alone. The Nasdaq Composite lost 2.00% on the week to 25,436.99 and the Dow 0.85% to 51,770.31. The Russell 2000 was the exception again, up 1.29% to 2,811.84.<\/p>\n

The technical damage is now on the board. The S&P is below its 7,626 support, the Nasdaq Composite is through intermediate support at 26,000, the semiconductor index is back under its 200-day average, and the Russell \u2014 which showed real relative strength midweek \u2014 slipped back to close around the 200-day on Friday. The VIX spiked toward 22 intraday before closing at 19.42, essentially unchanged on the week.<\/p>\n

Underneath, money went where it goes when the index leaders break: staples added about 1.75%, with health care and utilities each up roughly 1%.<\/p>\n

The week in sequence<\/h3>\n

Monday and Tuesday<\/strong> were a clean bounce. The S&P rose 0.70% to 7,676.77, then 0.60% to 7,722.60, with the Nasdaq up 1.18% and the Russell 1.16% on Tuesday. The dealer map closed the gap fast: the flip fell from 7,870.94 Friday to 7,724.16 Tuesday while the put wall rose from 7,500 to 7,700, turning a 247-point chasm into a 1.56-point gap by Wednesday\u2019s open.<\/p>\n

Wednesday<\/strong> the Fed held at 3.75%\u20134.00% on a 10\u20132 vote, with Lisa Cook and Beth Hammack dissenting in favor of a quarter-point hike. The statement called activity strong and inflation elevated. The index added 0.28% to 7,743.98 \u2014 and the curve steepened the wrong way: the ten-year rose six basis points to 5.05% while the two-year fell to 4.67%. A hold that lifts the long end is a market saying the pause is not the end of tightening.<\/p>\n

Thursday<\/strong> the data came in strong and the megacaps split. Third-quarter GDP grew 3.4% against a 3.2% consensus, September PCE prices rose 3.6% year over year against 3.7% expected, and claims were 194,000. Alphabet fell about 10% after its results and ServiceNow about 19%, while Microsoft rose. The S&P slipped 0.30%, the Nasdaq 1.38% \u2014 and the Russell 2000 rose 1.01%. The cap-weighted S&P fund fell 0.38% while the equal-weight fund rose 1.20% and the Magnificent Seven fund lost 2.19%. New highs beat new lows 31 to 2 and 63.4% of members sat above their 200-day. The closing TRIN of 2.25 said the selling was concentrated and heavy in a few names.<\/p>\n

Friday<\/strong> the bill arrived. Amazon grew sales 12% to $201.9 billion with AWS up 39% to $46.0 billion \u2014 then guided to roughly $220 billion of cash capital spending for 2026 against trailing free cash flow of negative $42.4 billion. Intel fell about 26% in premarket after its report, AMD 8.5%, and the semiconductor ETF closed at 526.71, down 6.2% on the day. Up volume was 34% of the total, S&P advancers trailed decliners by 46, and the Russell\u2019s by 827 \u2014 the broadest selling of the week.<\/p>\n

What the rest of the market said<\/h3>\n

The bond market did not confirm the panic. The ten-year ended the week at 4.94%, down six basis points, the two-year at 4.56%, down thirteen, and the thirty-year at 5.31%. Credit went the other way from equities entirely: the high-yield spread tightened to 3.26%, about 14 basis points inside the prior week. Gold broke down to about $3,885, with crude holding near $103 and Brent above $112.<\/p>\n

The one gauge that confirmed the stress was liquidity. Net liquidity fell to $5.73 trillion, down about $78 billion on the week, as the Treasury\u2019s cash balance rebuilt after the tax date. And the concentration measure kept unwinding: the cap-weight-to-equal-weight ratio fell from 3.510 to 3.462, while the share of S&P members above their 200-day actually rose from 56.1% to 58.8%. The index is breaking; the median stock is not.<\/p>\n

Who moved<\/h3>\n

Jeffrey Gundlach (DoubleLine)<\/strong> says the Fed should be raising rates and is behind the curve, pointing at the two-year and the curve that steepened during the press conference. His model mix is the cleanest expression of the week\u2019s worry: 30% equities deliberately away from the AI concentration in the cap-weighted index, 30% bonds as a barbell of safe domestic investment grade and local-currency emerging-market debt, 20% commodities tilting toward gold as it falls, and 20% dry powder in short-duration paper rather than cash.<\/p>\n

Tom Lee (Fundstrat)<\/strong> read Chair Warsh\u2019s press conference as dovish, argues the committee is walking back its September hawkishness, and told followers to look through the noise.<\/p>\n

Ed Yardeni<\/strong> describes air coming out of the AI bubble without a burst, with a \u201ctoxic trifecta\u201d behind the jitters: elevated borrowing costs, uncertain returns on the investment and the financing that funds it. His line after Thursday\u2019s data: the economy continues to roar while the Fed waits.<\/p>\n

Michael Hartnett (BofA)<\/strong> stayed bearish, risk-off until mid-November. Mike Wilson (Morgan Stanley) holds that the correction that began in June is in its final stages, with AI funding, the midterms and liquidity as the three clearing events.<\/p>\n

David Keller (Sierra Alpha)<\/strong> made 7,600 his line in the sand with 7,300 below it \u2014 Friday\u2019s close went through it \u2014 and now frames the tape as separating AI winners from losers.<\/p>\n

Mark Newton (Fundstrat)<\/strong> turned cautious on Amazon\u2019s break to multi-month lows on above-average volume, which he calls the real technical warning rather than the after-hours gap.<\/p>\n

Jeff deGraaf (Renaissance Macro)<\/strong> sees two markets: an overbought equal-weight S&P against a middling cap-weighted index, with hardware and semis oversold enough for a month-end bounce, and defensives taking a bigger share of returns over time. He flagged that 50% of the index hit 20-day highs on the day technology fell hardest \u2014 a reading last seen coming out of the May 2025 tariff tantrum.<\/p>\n

Warren Pies (3Fourteen)<\/strong> still sees a path to 8,000 by December 31 with a choppy two weeks first. Jeremy Siegel notes the value indexes are at all-time highs and calls the ten-year joined at the hip with AI sentiment. Andy Sieg (Citi) flagged cracks forming in private credit.<\/p>\n

Into next week<\/h3>\n

Month-end is behind us and the midterms are Tuesday \u2014 the date nearly every cautious voice named as the clearing event. With the index under its flip, the November chain\u2019s heaviest put interest at 7,500 and the call wall down at 7,800, the dealer corridor is narrow and the market sits at the bottom of it.<\/p>\n

View Charts and Analysis for SP, Nasdaq, Dow, Gold, Crude Oil, Dollar Index, VIX, Bonds, BTC and More!!<\/a><\/h3>\n

Need help looking at different markets? get some insight from an experienced series 3 broker?<\/h3>\n

The call is free and we are here to assist – try us!<\/a><\/h3>\n

+310 859 9572<\/h3>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Cannon Edge \u2014 Your Daily Futures Snapshot for Nov. 3rd<\/h3>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each post delivers:<\/h4>\n

\u00b7\u00a0\u00a0\u00a0\u00a0Current price and daily % change<\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a030\u2011day and 52\u2011week highs\/lows<\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0PROPRIETARY Short\u2011term and long\u2011term trend signals<\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0Coverage across equity indices, metals, energies, currencies, and ags<\/p>\n

Whether you’re scanning for breakout setups, trend reversals, or just staying informed \u2014 Cannon Edge puts the data in your hands before the open.<\/h3>\n

Built for speed. Backed by insight. Powered by CQG.<\/em><\/h3>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Daily Levels for Nov. 3rd, 2026<\/h3>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Economic Reports<\/h3>\n

provided by: ForexFactory.com<\/a><\/p>\n

All times are Central Time ( Chicago)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.\u00a0You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.<\/em><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Cannon Trading Co., Inc.<\/span><\/strong><\/em><\/p>\n

12100 Wilshire Blvd.<\/span><\/strong><\/em><\/p>\n

Suite 1640<\/span><\/strong><\/em><\/p>\n

Los Angeles, CA 90025 US<\/span><\/strong><\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

At A Glance Levels Instrument S2 S1 Pivot R1 R2 Gold (GC) \u2014 Dec. (#GC) 3850.37 3903.53 3942.17 3995.33 4033.97 Silver (SI) \u2014 Dec. (#SI)58.79 48.11 49.37 50.36 51.62 52.61 Crude Oil (CL) \u2014 Dec. (#CL) 90.36 93.16 97.96 100.76 105.56 \u00a0Dec. Bonds (ZB) \u2014 Dec. (#ZB) 106 23\/32 107 11\/32 107 31\/32 108 19\/32 […]<\/p>\n","protected":false},"author":19,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1998],"tags":[1964,1627],"class_list":["post-23431","post","type-post","status-publish","format-standard","hentry","category-automated-futures-trading","tag-ai","tag-fed"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/23431","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/comments?post=23431"}],"version-history":[{"count":1,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/23431\/revisions"}],"predecessor-version":[{"id":23432,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/23431\/revisions\/23432"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=23431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=23431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=23431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}