{"id":23449,"date":"2026-11-09T13:28:37","date_gmt":"2026-11-09T21:28:37","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=23449"},"modified":"2026-11-09T13:28:37","modified_gmt":"2026-11-09T21:28:37","slug":"ai-nov-10-2026","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/ai-nov-10-2026\/","title":{"rendered":"Your Important AI Post-Election Futures Trading Outlook | November 10th, 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

4027.93<\/td>\n4088.57<\/td>\n4123.13<\/td>\n4183.77<\/td>\n4218.33<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
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Silver (SI)<\/strong><\/h2>\n

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

50.62<\/td>\n51.98<\/td>\n52.78<\/td>\n54.15<\/td>\n54.95<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
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Crude Oil (CL)<\/strong><\/h2>\n

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

81.46<\/td>\n84.29<\/td>\n87.86<\/td>\n90.69<\/td>\n94.26<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
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\u00a0Dec. Bonds (ZB)<\/strong><\/h2>\n

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

107 22\/32<\/td>\n108 2\/32<\/td>\n108 16\/32<\/td>\n108 28\/32<\/td>\n109 10\/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 Blue Wave Hit the AI Trade<\/h2>\n

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

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

Week of November 2\u20136, 2026 \u00b7 Cannon Intelligence Desk<\/em><\/h3>\n

One session undid the month. The S&P<\/strong> 500 finished the week at 7,376.86, down 2.68%, after a 4.36% collapse on Thursday that erased Wednesday’s post-election rally and then some. The Nasdaq<\/strong> Composite lost 3.37% to 24,579.42, the Russell 2000<\/strong> 2.05% to 2,754.11 and the Dow <\/strong>0.94% to 51,285.73. The SOX<\/strong> lost 12.15% to 9,390.25. The index now sits 5.7% under its October 6 record close of 7,818.93. The VIX<\/strong> ended at 25.64, up from 19.42 a week earlier, after closing at 28.18 on Thursday.<\/p>\n

The 7,527 support from last week’s report gave way Thursday, and Friday’s bounce could not reclaim it.<\/em><\/h4>\n

The week in sequence<\/em><\/h3>\n

Monday<\/strong> the good news went unrewarded. Palantir grew revenue 96% to $2.313 billion and raised guidance; Apple posted record September-quarter revenue of $114.5 billion. Both traded lower. The S&P slipped 0.51% to 7,541.40 while the Dow rose 0.41%, and crude settled at 96.46, down 6.77%, on hopes for U.S.\u2013Iran talks.<\/p>\n

Tuesday<\/strong>, Election Day, the index rose 0.36% to 7,568.92 on the heavy weights alone: decliners beat advancers 313 to 184 and the equal-weight fund fell 0.33%. AMD beat after the close and guided above expectations.<\/p>\n

Wednesday<\/strong> Democrats were projected to take both chambers. ES sank to 7,490.00 overnight, then reversed. The S&P gained 1.58% to 7,688.62 and the Dow 3.03% to 53,356.12, with 372 advancers against 127 \u2014 but Micron fell 7.00% and Nvidia 3.17%. That was a rotation out of AI hardware, not a broad all-clear, and the cash index closed just 9.13 points above the dealer gamma flip.<\/p>\n

Thursday<\/strong> the bill arrived. Fear that a Democratic Congress slows the data-center build-out hit the whole AI hardware chain: ETF SMH semiconductor, Micron & AMD fell and the S&P lost 4.36% to 7,353.73, the Nasdaq 5.52% and the Dow 1,833 points. Only 9% of S&P volume traded up \u2014 a 90% down day \u2014 and new highs collapsed from 71 to 11.<\/p>\n

Friday’s<\/strong> October payrolls came in hot: 165,000 jobs against a 55,000 consensus, unemployment at 4.1%, hourly earnings up 0.4%, and August and September revised up a combined 84,000. Chips led, with the SOX up 4.21%, but the broader bounce faded by midday and the S&P closed up just 0.31%. Up volume was 43.6% of the total, and the share of members above their 200-day fell to 55.4%, from 66.5% on Wednesday.<\/p>\n

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

Oil<\/strong> did not trade like a growth scare. December WTI fell 13.2% on the week to 90.34 on Iran diplomacy, yet settled up 2.40 on Thursday’s crash day. Gold rose 4.6% to 4,079.50. The ten-year ended at 4.86%, up 2 basis points on the jobs report but 8 lower on the week; the dollar index finished at 102.28.<\/p>\n

Liquidity<\/strong> turned the other way from stocks: net liquidity switched from draining to adding, at $5.81 trillion, up $82 billion on the week, as the Treasury’s cash balance came off its peak. Credit did not confirm the relief \u2014 the high-yield spread widened 18 basis points on the week to 3.32%.<\/p>\n

Who moved<\/h3>\n

Dan Ives (Yorkville)<\/strong> cut his framework: at least 10% of planned data centers don’t get built, and big-tech capex growth peaks in 2027, not 2028\u201329. Friday he still called the rout a “generational buying opportunity,” with demand four times capacity and 75% of 2027\u201328 data centers already approved. He prefers hyperscalers and software; neoclouds should be down.<\/p>\n

Tom Lee (Fundstrat)<\/strong> called Thursday a policy shock that smelled of forced liquidation, expects at least a 15% tech rally and says the December hike probably doesn’t happen. Ed Yardeni held his 7,900 year-end target: “the beware period is over,” and the data-center constraints are speed bumps, not roadblocks.<\/p>\n

Jeremy Siegel<\/strong> called it a healthy shakeup but turned neutral \u2014 AI stocks are now fairly valued, not cheap. Anastasia Amoroso (Partners Group) sees an overreaction to overconcentration: the question is where and how data centers get built, not whether. She prefers hyperscalers over neoclouds and semis.<\/p>\n

The technicians turned cautious. Brian Belski (BMO)<\/strong> noted downside volume ran 5-to-1, short of the 8-to-1 to 10-to-1 that marks a washout. Mark Newton (Fundstrat)<\/strong> went from “a low looks near” Thursday to Friday’s note that the half-hearted bounce does not signal the decline has run its course. David Keller (Sierra Alpha)<\/strong> flagged Nvidia breaking below its 200-day and calls this an “anything but tech” market. Jeff deGraaf (Renaissance Macro)<\/strong> holds that semis and AI have been a bubble since May, with real rates the chokehold \u2014 though November is the calendar’s best month.<\/p>\n

Liz Ann Sonders (Schwab)<\/strong> says rotation is the new momentum trade, with health care leapfrogging technology. Mohamed El-Erian (Allianz)<\/strong> warns the economy is levered to AI and expects at least one more hike. Michael Hartnett (BofA)<\/strong> wants central banks to stop tightening, lower long yields and cheaper oil before adding risk, and sees a rebound possibly starting after Thanksgiving.<\/p>\n

Into Next week<\/h3>\n

October CPI lands Tuesday at 8:30 (prior 0.6% m\/m, 3.7% y\/y; core 0.3% and 2.6%), PPI Friday (prior 1.3%; core 0.7%) and jobless claims Thursday (prior 189K). A dozen Fed speeches fill the week \u2014 Goolsbee and Barkin Monday; Logan, Schmid, Bowman and Paulson Tuesday; Hammack, Barr, Daly and Williams Thursday; Daly again Friday. After a jobs report this hot, CPI decides whether December is a hike.<\/p>\n

On the map: Thursday’s November options left the heaviest put open interest at 7,300 and 7,200, with call interest capped near 7,500. Mike Wilson (Morgan Stanley) has long marked 7,100\u20137,200 as where this correction finds material support. Above, 7,475 and last week’s broken 7,600 are now resistance. On the SOX, Thursday’s 8,997.39 low sat just around some FIB retracement and the 200-day far overhead at 10,831. The ten-year, the high-yield spread and the equal-weight index will say whether this was a clearing event or the start of one.<\/p>\n

I am biased toward the tape. I follow what the market does, not what I think it should do.<\/h3>\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. 10th<\/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. 10th, 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

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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

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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) 4027.93 4088.57 4123.13 4183.77 4218.33 Silver (SI) \u2014 Dec. (#SI)58.79 50.62 51.98 52.78 54.15 54.95 Crude Oil (CL) \u2014 Dec. (#CL) 81.46 84.29 87.86 90.69 94.26 \u00a0Dec. Bonds (ZB) \u2014 Dec. (#ZB) 107 22\/32 108 2\/32 108 16\/32 108 28\/32 […]<\/p>\n","protected":false},"author":19,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1998,234],"tags":[1964,2092],"class_list":["post-23449","post","type-post","status-publish","format-standard","hentry","category-automated-futures-trading","category-trading-guide","tag-ai","tag-ai-futures-trading"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/23449","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=23449"}],"version-history":[{"count":1,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/23449\/revisions"}],"predecessor-version":[{"id":23450,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/23449\/revisions\/23450"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=23449"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=23449"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=23449"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}