ES Pre-Open Brief — Tuesday, 28 July 2026
Generated Tue 28 Jul, 13:45 WEST · E-mini S&P 500 (ES1!) · Levels from delayed CME feed; completed session & higher-timeframe ranges are final.
Technicals — Key Levels
Last: 7460.75
| Timeframe | High | Low |
|---|---|---|
| Weekly (developing) | 7524.75 | 7416.25 |
| Weekly (prior) | 7563.50 | 7411.75 |
| Daily (prior) | 7524.75 | 7416.25 |
| 4H (last completed) | 7449.00 | 7419.50 |
| Asia (01:00–05:00 Lisbon time) | 7452.00 | 7424.00 |
| London (07:00–10:00 Lisbon time) | 7449.00 | 7419.50 |
Map for the session: ES sits at 7460.75, pinned against the top of the daily range (7419/7467) and the 4H high (7467), having reclaimed both the London (7419.5/7449) and Asia (7424/7452) session ranges. That puts price well inside the current weekly range (7416.25/7524.75), with the prior weekly high at 7563.5 the next magnet if the market pushes through 7467.
Fundamentals
- FOMC’s two-day meeting starts today; the policy decision and Chair Kevin Warsh’s press conference land tomorrow at 14:00 ET (~19:00 Lisbon). This cycle carries no Summary of Economic Projections, and Fed speakers stay silent under the blackout window.
- Earnings roll on ahead of the bell: Boeing posted a wider-than-expected loss (Air Force One program costs) but shares ticked higher on delivery strength, while UPS beat on both lines. One of the season’s busiest weeks continues with mega-cap tech reports still to come.
- A semiconductor sell-off is the dominant cross-asset driver — Korea’s Kospi dropped over 10% as SK Hynix and Samsung both fell double digits, dragging US chip names (Micron, Sandisk, Nvidia) among the S&P’s top decliners and capping index upside.
- Offsetting the chip-led risk-off tone: the 10-year yield eased to near 4.64% on an overnight oil pullback, and fresh PMI prints in the 53–54 area show services and manufacturing still expanding.
Bias
With price pinned at the top of the daily/4H range heading into a Fed decision, and solid PMI/yield backdrop fighting a semiconductor-led drag, the higher-timeframe lean is neutral-to-constructive rather than outright directional until the FOMC clears. 7467 (daily/4H high) is the key decision level: acceptance above opens a run at the weekly high (7524.75), while rejection back below the London/Asia highs (7449/7452) shifts focus toward the 7419–7432.5 shelf. This is educational analysis, not financial advice.
Analysis for educational purposes; not financial advice.