This is the 1 November 2026 entry in the Weekly Futures Market Recap series, recorded on Halloween in France. Last weekend the Emini needed to get back above 7717. It did, and the 13,500 tick bar chart rallied into Big Pro Bars and blue boxes at new highs before a RAMBO top, a spike at 7800 and a Signal Short. Thursday and Friday were a nasty two day move down, the weekly range was about 260 points, and the daily chart has now broken the Better Pro Am trailing stop. With the midterms on Tuesday, expect a bounce to be sold early in the week before the picture clears.
TL;DR - This Week’s 3 Calls
- Emini: a bounce gets sold before Tuesday. The daily chart broke beneath the low of Monday’s blue Professional bar, so the trailing stop is gone and the Combo Trend background is grey. Big Pro Bars are back at the lows on the 13,500 tick bar chart, but the end of trend patterns on the intermediate timeframe still have to print. Watch Sunday night, Monday and Tuesday.
- Precious metals and Bitcoin: no Pro buyers yet. Gold fell below 3900 after Big Pro Bars got short at 4150, Silver has no Big Pro Bars at 49, and Bitcoin broke the 79,800 level into the 76,000s and 77,000s.
- The long side: Yen, Aussie Dollar, British Pound and Wheat. The Pros bought the Yen lows three times, bought the Aussie retrace (70.36 is the trailing stop to clear), and have not taken profits in the Pound. Wheat needs to get above 608 to 610.
Macro Setup This Week
The US midterms are on Tuesday, and there is unlikely to be a clear picture in the Emini until Tuesday into Wednesday. In Europe, the French GDP numbers came out this week at -0.1% for the quarter and -0.1% for the whole year, which is not good news for the Euro. In bonds, inflation is not beaten and the Fed is talking up rates, so the 10-Year Notes are coming off. Gold, Silver, Bitcoin, Copper and Natural Gas all fell, which leaves the Yen, the Aussie Dollar and the British Pound as the strongest charts of the week.
Market-by-Market Breakdown
ES - Emini S&P 500 Futures: Signal Short From 7800, Trailing Stop Broken
The Emini had a nasty break on Friday, with a big bounce at the end of the day. Daily chart: the background is grey on the Combo Trend indicator, which reads price and volume. We have broken beneath the low of the last blue Professional bar, Monday’s, so the Better Pro Am trailing stop has gone, and Better Sine Wave has white bars, a downtrend in price. There were no blue Professional bars taking profits at the highs and no exhaustion patterns. Cyclically we put in another pullback to end of trend on the lowest timeframe and then on the intermediate timeframe. These ripple through the timeframes as a trend rolls over, the lower one like a left shoulder and the higher one the head. The next stop is support on the highest timeframe, when the thick lines come down and come together, and that might take a while. 135-minute: blue Professional bars came in at the beginning of the week with the background in blue, super high average trade size, but the rally failed and did not break back up through the trailing stop. This week’s high is the target. 45-minute: Big Pro Bars tried to save it and could not. Exhaustion bars at the top, bearish divergence and a flush pattern, then we dropped below cyclical support on the highest timeframe. 15-minute: RAMBO patterns at the highs, blue Professional bars tried to hold it, then we gapped down with the background grey. 13,500 tick bar: the clean one. Last week’s Big Pro Bars at the lows saved it, a RAMBO pattern marked the low, and we rallied into Big Pro Bars, blue bars and blue boxes at new highs. Then a RAMBO to RAMBO channel, a spike at 7800, a Signal Short, a squeeze pattern and a trending move all the way down. Big Pro Bars are back in at the lows with the background in blue, but there are not many of them. I expect a little bounce that gets sold early next week to put in pullback to end of trend patterns on the intermediate timeframe, possibly the highest too. Track the same order flow on your own charts with Better Trading Indicators.
6E - Euro FX Futures: No Big Pro Bars, No Bottom
The Euro has been weakening. It bounced off Amateur down bars, but there were no Big Pro Bars, and the last time they came in they were selling it down. We are not close to a bottom, so the Euro is in no man’s land. I think we have to go through the lows to get the Big Pro Bars coming in.
6B - British Pound Futures: Uptrend, No Pro Profit Taking
The British Pound is doing the best of the currencies. An exhaustion sell, blue Professional bars and a signal, and we rallied to test the prior highs. No blue Professional bars taking profits this time, so the Pound is in an uptrend.
6A - Australian Dollar Futures: Pros Bought the Retrace, 70.36 to Break
The Aussie Dollar bottomed at 69 and had a nice rally. The Big Pro Bars came on the retrace, not taking profits at the highs. We have held, with a RAMBO pattern and blue Professional down bars. The Aussie needs to get back up through the trailing stop at 70.36 to go, ideally with an exhaustion pattern on the way up. Cyclically there is support and a pullback on the highest timeframe, and a pullback to end of trend is due.
6J - Japanese Yen Futures: Pros Bought the Lows Three Times
The Japanese Yen looks strong. It is the third time into the 63.30 area. Each time Big Pro Bars, blue boxes and blue bars came in at the lows with the background in blue, and this time a lot more of them. That is the Professionals buying the lows three times, and we have rallied with no profit taking at the highs. The Yen is in an uptrend.
ZN - 10-Year Treasury Note Futures: Exhaustion Buy, Pros Taking Profits
The 10-Year Notes look a little toppy. Exhaustion buy patterns at the highs with the background in blue mean the Professionals are taking profits after a nice run. The last signal was long, but we are putting in a high. Inflation is not beaten and the Fed is talking up rates, so bonds are coming off.
GC - Gold Futures: Pros Short at 4150, Now Below 3900
Gold was big on the downside. Over the last two weeks Big Pro Bars got short on the little retrace at 4150, and this week Gold fell out of bed, a big move down below 3900. Gold bugs will not be happy.
SI - Silver Futures: No Pro Buyers at 49
Silver followed Gold down. We had short patterns where the Pros were selling it down, and they have not come back in. No Big Pro Bars on the way down at 49. There are blue Professional bars and an exhaustion sell pattern with some profit taking, but it has been a nasty move, and Silver is now below 50.
BTC - Bitcoin Futures: 79,800 Broken
Bitcoin had interesting moves this week. Exhaustion buys with Big Pro Bars mid sequence, and they seem to be getting in on the retrace, which is not a good look. We broke through 79,800, a psychologically important level, and it did not hold, dropping into the 76,000s and 77,000s. Bitcoin has to work on forming a bottom, following the precious metals.
CL - Crude Oil Futures: Triple Cyclical Resistance at 105
Crude got up to 104.98, almost 105. There were no Big Pro Bars and no blue Professional bars taking profits at the highs, so this is just technical weakness. On Better Sine Wave, big things happen at triples: pullback to end of trend, resistance on the intermediate timeframe and resistance on the highest timeframe. Cyclically Crude could not get through those highs.
NG - Natural Gas Futures: Exhaustion, No Big Pro Bars
Natural Gas is heading down. It has exhaustion patterns, but no Big Pro Bars came in, so it is weak.
HG - Copper Futures: Pro Profit Taking, Signal Short
Copper is going to take a tumble as well, I think. This week blue Professional bars took profits at the highs and we had two Signals Short. The Big Pro Bars came on the retrace, not picking it up at the highs, and Copper fell out of bed and has weakened since.
ZC - Corn Futures: Still in a Downtrend
Corn is not looking so good, because the blue Professional bars came in on the retrace, not on the way down. Corn is still in a downtrend, so let’s wait and see.
ZS - Soybean Futures: Gap Down, No Pros at the Lows
Soybeans were looking good, then there must have been a news announcement: we gapped down Sunday into Monday and kept going. No blue Professional bars at the lows.
ZW - Wheat Futures: Signal Long, Squeeze Setup
I am long Wheat at the moment and it is hurting, but I still think the ags are going to rally. The Pros were trying to find a bottom here: a signal that faded, then they came in again with an exhaustion sell, blue Professional bars and another signal. Now we are in a squeeze. We need to get out of it into a trending move above 608 to 610 to get Wheat going.
Pattern of the Week: Pullback to End of Trend Rippling Through the Timeframes
The Emini daily chart showed how a trend rolls over on Better Sine Wave. A pullback to end of trend prints on the lowest timeframe first, the left shoulder, then on the intermediate timeframe, the head, and price drops away. It happened twice into these highs, with no Professional profit taking to warn us, and the only confirmation was price breaking the Better Pro Am trailing stop. On the 13,500 tick bar chart the Big Pro Bars are already back at the lows, but the same cyclical sequence has to complete before a low is in. That is the discipline: Follow the Professionals, Fade the Amateurs, and let the cycles confirm the timing.
Looking Ahead to the Week of 2 November 2026
Expect a bumpy ride Monday, Tuesday and Wednesday around the midterms. On the Emini, look for a bounce that gets sold Sunday night into Monday and Tuesday to put in the pullback to end of trend patterns, with this week’s 135-minute high as the level for the bulls to reclaim. On the long side, the British Pound, Aussie Dollar and Japanese Yen are the interesting charts, and Wheat needs 608 to 610.
Full Transcript (click to expand)
Full transcript of the video above, cleaned for readability.
Intro (00:00): On Saturday 31 October 2026, just gone 12:29 PM Chicago time. I hope you are doing well. It is the weekend, so time for another weekend futures market recap. We will go through 15 of the largest futures markets and I will show you what I am seeing on my charts. It is Halloween, and believe it or not, Halloween is big in France. It has been gaining popularity over the years, and this year it is absolutely huge. The kids are running around town as the sun goes down, and the French love dressing up, so even the parents are in costume. There is a park in the middle of town decked out with Halloween scenes, with actors in scary costumes walking around. The French are funny about American things, a love hate relationship, but Halloween they are certainly embracing this year.
Midterms and Friday’s Break (01:00): It is as if Halloween has infected the markets, because they are looking pretty scary. We are probably not going to get a clear picture until after the midterms, Tuesday into Wednesday, but we had a nasty break on Friday. The top to bottom range for the week was about 260 points, and Friday was big, with a big bounce at the end of the day, but it was a nasty two day move down. We will look at the Emini charts first, daily all the way down to the 13,500 tick bar. The 15-minute and 45-minute charts are very junky because we are caught in this range, but the 13,500 tick bar is nice and clean.
Emini Daily Chart (01:48): What has got me down is that the background is grey. This is the Combo Trend indicator looking at price and volume, and it means we have broken the trailing stop on Better Pro Am. The last blue Professional bar was Monday, and we have broken beneath its low. It was a fairly strong close, midway up, but Better Sine Wave also has white bars, a downtrend in price, breaking supports and breaking the trailing stop with the Professionals. That is why the background is grey, and that has been my guiding star for the last several months. That is the only signal on the daily chart. We have not had blue Professional bars taking profits at the highs, and there were no exhaustion patterns up there. In terms of cycles, we put in another pullback to end of trend. We had a pullback to end of trend on the lowest timeframe and then on the intermediate timeframe, and the same thing went off again: lowest timeframe, then this week the intermediate timeframe. These pullback to end of trends ripple through the timeframes as the trend rolls over. Usually the lower timeframe is like a left shoulder and the higher timeframe is the head, and we dropped off. So those are signs of weakness at the highs. The next spot down is support on the highest timeframe, so we drop until the thick lines come down and come together, and that might take a while. Personally I am a contrarian, and when everybody tells me it is going one way I think, what if it doesn’t? So let’s see on Tuesday with an open mind, but it is going to be rocky for a few days until we get clarification.
Emini 135-Minute (04:10): Exactly three 135-minute bars in a day session of the Emini. This was good, where blue Professional bars held it and we had a little rally, but it failed. At the beginning of the week more blue Professional bars came in with the background in blue, super high average trade size, but it failed and did not break back up through the trailing stop. We came down to another background in blue bar. So the high of this week becomes key on the 135-minute chart, that is the target. These are all signs of weakness as we roll over with cyclical resistance on the highest timeframe. The bars are white, so we are in a downtrend on Better Sine Wave.
Emini 45-Minute (05:03): More detail here. Big Pro Bars come in, Big Pro Bars come in, they try to save it and it cannot get going. Then blue Professional bars came in, having topped out with exhaustion bars, bearish divergence and a flush pattern, and it dropped off. Not good either. In terms of cycles, we dropped below cyclical support on the highest timeframe, so potentially moving into a downtrend on the 45-minute chart.
Emini 15-Minute (05:37): The beginnings and ends of the week are marked by vertical yellow lines. Not much going on this week. RAMBO patterns at the highs, blue Professional bars tried to hold it, then we gapped down and away. No blue Professional bars, and the background is grey.
Emini 13,500 Tick Bar (05:58): Last weekend we were talking about this pattern: Big Pro Bars at the lows, and were we going to get saved? We did get saved at the beginning of the week. A RAMBO pattern marked the low for last week, and we rallied this week into Big Pro Bars. The background is blue, the bars are blue, and we got blue boxes, Professionals at new highs. Then we topped out with a RAMBO pattern, a RAMBO to RAMBO channel, a little spike at 7800, and it all fell away. We got our Signal Short, went into a squeeze pattern, came out of the squeeze into a trending move, and bang, all the way down. However, the background is blue and Big Pro Bars have come in here. They came in at the lows, they came in at the highs, and they have come back in at the lows. I still think we need to make some cyclical patterns to satisfy ourselves. The high was a pullback to end of trend on the lowest timeframe, then the intermediate. On the way down we had a cluster of end of trends, and then we dropped off. On this chart we need to see pullback to end of trends on the intermediate timeframe, so those lines have to come back up and go down, and possibly the highest timeframe as well. The big Pros are in early here and there are not a heap of them, so I expect a little bounce that gets sold early next week to put in those pullback to end of trend patterns. That is what I will be looking for Sunday night, Monday and Tuesday. Things should become clearer after Tuesday, but Friday’s activity was disappointing.
France GDP (08:01): Let’s go through some other markets, starting with the Euro, because France is in the news. The GDP numbers came out for the quarter and for the year, and both were -0.1%. Negative 0.1% GDP growth for the entire year in France. Not good.
Euro (08:21): The Euro has been weakening. It bounced off Amateur down bars, but no Big Pro Bars. The last time they came in they were selling it down. We are not close to a bottom on the Euro, so we are in no man’s land, and I think we will have to go through the lows to get the Big Pro Bars coming in.
British Pound (08:43): The British Pound is doing the best of the lot. Exhaustion sell, blue Professional bars came in, we got our signal and we rallied, testing into the highs. No blue Professional bars taking profits this time, so we are in an uptrend on the British Pound.
Aussie Dollar (08:57): Same thing with the Aussie Dollar. It bottomed at 69 and had a nice rally. These are Big Pro Bars coming on the retrace, not taking profits. We have held, with a RAMBO pattern and blue Professional down bars. We just need to get back up through the trailing stop at 70.36 for the Aussie to go, and an exhaustion pattern on the way up would be good. Cyclically we have support and a pullback on the highest timeframe, so we need to make a pullback to end of trend there. The Aussie is looking strong.
Japanese Yen (09:37): The Japanese Yen also looks pretty strong this week. It is the third time we are into 63.30. Big Pro Bars, blue boxes and blue bars at the lows, the same again with the background in blue, and a little higher this time with a lot more Big Pro Bars and blue boxes. That is the Professionals buying the lows here, here and here, and we have rallied. They have not taken profits at the highs, so we are in an uptrend on the Japanese Yen.
10-Year Notes (10:15): The 10-Years look a little toppy. Exhaustion buy patterns up here with the background in blue, so the Professionals are taking profits after a nice little run. The last signal was long, but we are putting in a high. Inflation is not beaten, the Fed is talking up rates, and bonds are coming off.
Gold (10:39): Gold. This was big on the downside. Over the last two weeks, on the little retrace, Big Pro Bars got short at 4150, and this fell out of bed this week, a big move down below 3900. Gold bugs will not be happy with that.
Silver (10:56): Silver followed it down. We had short patterns where they were selling it down, it did not catch, and they have not come back in. No Big Pro Bars on the way down at 49. Some blue Professional bars and an exhaustion sell pattern, taking profits, but it has been a nasty move down in Silver, now below 50.
Bitcoin (11:27): Interesting moves on Bitcoin this week. Exhaustion buys, with Big Pro Bars mid sequence, but they seem to be getting in on the retrace. Not looking too good. We broke through 79,800, a psychologically important level. It did not hold, and we broke through to the 76,000s and 77,000s. So we have to work on forming a bottom on Bitcoin, following the precious metals.
Crude Oil (11:59): Crude got up to 104.98, almost 105, with no Big Pro Bars and no blue Professional bars at the highs taking profits. So just a little technical weakness. On Better Sine Wave there was cyclical resistance, and big things happen at triples: pullback to end of trend, resistance on the intermediate timeframe and resistance on the highest timeframe. Cyclically it could not get through those highs on Crude.
Natural Gas (12:33): Natural Gas is heading down. It has exhaustion patterns, but no Big Pro Bars came in, so that is weak. Everything is down, down, down.
Copper (12:41): I think Copper is going to take a tumble as well. This week blue Professional bars took profits at the highs. Signal Short, Signal Short. The Big Pro Bars happened on the retrace, they were not picking it up, and we fell out of bed and weakened since. Copper is not looking good.
Corn and Soybeans (13:00): The ags, though. I am long Wheat at the moment and it is killing me, but I still think the ags are going to rally. Corn is not looking so good, because the blue Professional bars came on the retrace, not on the way down, so Corn is still in a downtrend. Let’s wait and see. Soybeans were looking good, then there must have been a news announcement, because it gapped down Sunday into Monday and kept going. No blue Professional bars at the lows.
Wheat (13:28): Here we go on Wheat. They were trying to find a bottom here: a signal that faded, then they came in again. Exhaustion sell, blue Professional bars, signal again, and a squeeze. We need to get out of this into a trending move, above 608 to 610, to get Wheat going.
Wrap-Up (13:54): Like all of you, I am going to be glued to the news feeds come Tuesday, and it is likely to be bumpy. I am sorry there is not better news. A lot of things are pointing down, although the British Pound, Aussie Dollar and Japanese Yen look interesting for long trades, and maybe you want to join me long Wheat this week. Be prepared for a bumpy ride Monday, Tuesday and Wednesday, but I am not telling you anything you don’t know. Trade well, and I am looking forward to next week.
Want These Calls With the Indicators I Use on the Charts?
Every Big Pro Bar, blue box, exhaustion signal, flush pattern and RAMBO pattern in this recap comes off CME average trade size data, so you can see where the Professionals are buying and selling instead of guessing. This week it showed the Pros getting short in Gold at 4150 before the drop below 3900, and buying the Yen lows three times. Get the same read on your own charts with Better Trading Indicators.
