S&P 500 (ES) Analysis, Key-Zones, Setup for Mon (Nov 02)E-mini S&P 500 FuturesCME_MINI:ES1!MyAlgoIndexBias: The December S&P 500 contract settled at 7,614.00 on Friday, down 140.25 or 1.81 percent, after trading between 7,713.00 and 7,558.25. The 154.75 point range printed a lower high and a lower low against Thursday, the decline was the largest since 06/05/26 and the settle the lowest since 07/31/26. The cash index closed at 7,580.07, down 1.82 percent. Its session low was 7,527.56; the the Nasdaq-100 cash index fell 3.46 percent and the semiconductor index 7.20 percent, so the broad index again fell by less than technology. The news feed carried an item, unconfirmed, that Intel shares fell 29 percent, and market commentary tied the decline to Thursday's Intel and Amazon results, a press report on an artificial-intelligence developer's credit rating and higher oil prices. The volatility index closed at 19.42 and the ten-year yield index eased to 4.93 percent. The composite multi-indicator read moved to 56 percent sell from 16 percent buy, negative direction leads on the 9-day and 14-day directional systems, and the settle sits beneath every settlement average except the 200-day. The cash close sits beneath the modeled gamma-flip level at SPX 7,675 and 19.93 points beneath the dealer-positioning support base at SPX 7,600, which in this review's interpretation means dealer hedging is more likely to extend moves than to damp them, with SPX 7,600 now acting as resistance. In this review's interpretation the bias stays lower beneath the Pivot Point at 7,628.42, with a rebound toward that level the more likely first move. US daylight saving time ends at 2:00 AM ET on Sunday, November 1, 2026, per the verified forward calendar, two days of headline exposure separate Friday's settle from the Sunday reopen at 6:00 PM ET, and the cash open at 9:30 AM ET on Monday is the first directional test, with Apple results due on Monday, November 2, 2026, per the verified forward calendar, which lists them for the date only. Resistance: - 7,713.00 Friday's session high (SPX 7,679.07) - 7,708.93 modeled gamma-flip level, futures conversion (SPX 7,675.00) - 7,698.58 Pivot R1 (SPX 7,664.65) - 7,680.68 one standard deviation resistance (SPX 7,646.75) - 7,654.70 raw stochastic projection (SPX 7,620.77) - 7,650.23 38.2 percent retracement from the 13-week low (SPX 7,616.30) - 7,634.05 source's futures pair of the dealer-positioning support base (SPX 7,600.00, the source's own pair) - 7,633.93 dealer-positioning support base, futures conversion (SPX 7,600.00) - 7,628.42 Pivot Point (SPX 7,594.49) - 7,622.55 raw stochastic projection (SPX 7,588.62) Support: - 7,614.00 Friday's settle (SPX 7,580.07) - 7,575.61 published target price (SPX 7,541.68) - 7,563.80 18-40 day crossover price (SPX 7,529.87) - 7,558.25 Friday's session low (SPX 7,524.32) - 7,547.32 one standard deviation support (SPX 7,513.39) - 7,543.83 Pivot S1 (SPX 7,509.90) - 7,519.70 two standard deviations support (SPX 7,485.77) - 7,492.75 13-week low (SPX 7,458.82) - 7,473.67 Pivot S2 (SPX 7,439.74) - 7,433.93 dealer-positioning support, futures conversion (SPX 7,400.00) Primary Setup: SHORT the December contract from the 7,628 to 7,636 band (SPX 7,594.07 to 7,602.07) around the Pivot Point at 7,628.42 and the 7,633.93 conversion of SPX 7,600. Stop 7,650 (SPX 7,616.07), above the entry band and beneath 7,654.70, the 30 percent raw stochastic projection. Targets at 7,614 first (SPX 7,580.07), at Friday's settle, 7,596 second (SPX 7,562.07), between the settle and the published target price, and 7,578 third (SPX 7,544.07), above the published target price at 7,575.61. Risk to reward is roughly 1:1 to the first objective, 1:2 to the second and 1:3 to the third from the entry midpoint. The 14-day average true range is 88.39 points against an 18 point stop distance. A settle above Pivot R1 at 7,698.58 negates the thesis; two consecutive 30-minute closes above 7,636 remove the edge before the stop is reached. A weekend headline can carry the reopen through the stop in one move. A cash-session recovery in technology is the main risk to a short, which makes this an analyst judgment that rebounds into the Pivot Point are sold. SPX equivalents use this run's measured 33.93 point basis; the source's own pairs carry its 34.05 point offset. The 7,614.00 settle closed the largest decline since 06/05/26 with the cash index beneath SPX 7,600. In this review's interpretation Monday is a test of whether a rebound stalls beneath the Pivot Point at 7,628.42 and the SPX 7,600 conversion, or the decline extends toward Pivot S1 at 7,543.83.