ES Pre-Open Brief — Wednesday, 22 July 2026
Generated Wed 22 Jul, 14:10 WEST · E-mini S&P 500 (ES1!) · Levels from delayed CME feed; completed session & higher-timeframe ranges are final.
Technicals — Key Levels
Last: 7519.00
| Timeframe | High | Low |
|---|---|---|
| Weekly (developing) | 7554.00 | 7473.00 |
| Weekly (prior) | 7632.00 | 7473.00 |
| Daily (prior) | 7554.00 | 7473.00 |
| 4H (last completed) | 7536.50 | 7512.00 |
| Asia (01:00–05:00 Lisbon time) | 7547.00 | 7534.25 |
| London (07:00–10:00 Lisbon time) | 7536.50 | 7512.00 |
Map for the session: ES sits at 7519, inside Wednesday’s 4H range (7504–7533) and below the daily high at 7547, with the daily low at 7504 lining up almost exactly with the 4H floor — a confluence worth watching on any dip. Price is trading below the London session high of 7536.5 but above its low of 7512, and remains well inside the current weekly range of 7473–7554, with prior-week supply at 7632 still untested above.
Fundamentals
- EIA weekly crude oil inventories print at 9:30 ET (consensus -1.5M bbl); Brent has already pushed above $92 on continued US strikes on Iran, keeping an inflation-vs-growth tension in play for equities.
- Existing home sales data lands today, offering another read on economic resilience alongside softer CPI/PPI prints from last week.
- Fed Governor Lisa Cook speaks at 12:00 ET; markets currently price roughly 24% odds of a July hike and about 69% odds of a quarter-point move by September.
- Heavy earnings slate: TE Connectivity and Northern Trust beat before the bell; Alphabet, Tesla, IBM, Texas Instruments, ServiceNow, AT&T, Philip Morris, CME Group, GE Vernova and CSX all report after the close, with GOOGL and TSLA the key swing factors for tomorrow’s tape.
Bias
With price contained between the 4H/daily low cluster near 7504 and the daily/London-adjacent resistance at 7536.5–7547, the near-term bias is neutral-to-constructive as long as 7504 holds; a clean break below opens a retest of the weekly low at 7473, while acceptance back above 7547 targets the prior weekly high at 7632. Oil-driven inflation risk and tonight’s mega-cap earnings (Alphabet, Tesla) are the swing factors that will decide which side of this range resolves first — 7504 is the level to defend for bulls into the print. This is educational analysis, not financial advice.
Analysis for educational purposes; not financial advice.