Friday Low Swept, NQ Back at PDM
NQ swept Friday's low at 26,988.50, hit 26,751.25 and climbed back to its PDM at 27,206.75. ES is over its PDM. Expected move, 19 UW prints, 10 median tags, CPI Tuesday.
Monday, November 9, 2026
Our expected move for NQ today runs from 26,249.88 to 27,920.62. The expected move is the range the options market is pricing for a set time. Today's band is measured from Friday's close, so it counts the weekend too. That is one reason it is wide. Overnight NQ stayed inside it, from a low of 26,751.25 to a high of 27,319, and sits near 27,200. ES is inside its band of 7,229.94 to 7,574.06.
Now the line that matters most. NQ's PDM is 27,206.75. PDM means the prior day's median. It is the midpoint of Friday's regular session: (27,425 + 26,988.50) ÷ 2. NQ near 27,200 is sitting right on it. Overnight NQ broke under Friday's low at 26,988.50, went as low as 26,751.25, then climbed back over. That is a failed breakdown: price breaks a low, can't stay under it, and comes back. It is not a new uptrend yet.
From Friday's 4:00 p.m. ET close to about 6:58 a.m. ET, the UW board sent 19 prints: 18 hourlies, 1 Daily, 0 Weekly. A UW print is an imbalance alert. It fires when price comes back to a level where buyers or sellers left a gap. MedianReclaim sent 10 median tags: 9 Daily and 1 Weekly. A median tag fires when price trades back to the midpoint of a day or week. NQ had none of either. These are taps on our levels. They show where price touched, not where it goes next.
Why is NQ slow? Nvidia fell before the open on news of a board probe tied to CEO Jensen Huang. Nvidia is one of the biggest names in NQ. Dow futures are up more than twice as much as NQ. ES near 7,449 is over its own PDM at
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