Futures on the Dow Jones Industrial Average (DJI) are sitting solidly below breakeven, with investors casting a cautious eye ahead of Tuesday's election. Meanwhile, "On the S&P 500 Index (SPX), the 1,405 level is back in play," said Schaeffer's Senior Trading Analyst Bryan Sapp. "Things look pretty ugly, especially given the good economic data we've had. Additionally, bullish sentiment crept higher on many polls last week, and that's concerning, given what the markets have done in the past. This week should be a whirlwind, with the reaction to tomorrow's U.S. Presidential election the most important thing to watch going forward."

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Futures on the Dow Jones Industrial Average are roughly 40 points below fair value.

Market Statistics

Equity option activity on the Chicago Board Options Exchange (CBOE) saw 994,468 call contracts traded on Friday, compared to 763,534 put contracts. The resultant single-session put/call ratio jumped to 0.77, while the 21-day moving average rose to 0.71.

Currencies and Commodities

• The U.S. dollar index is up 0.2% ahead of the bell to trade at $80.77.
• Crude oil is on the mend, with the front-month contract 0.1% higher to trade near $84.96 per barrel.
• Gold futures are on the rebound, as well, with December-dated gold tacking on 0.3% in pre-market trading to hover near $1,680.80 an ounce.

Earnings and Economic Data

We'll start the week off on the economic front with the Institute for Supply Management's (ISM) non-manufacturing services index. Meanwhile, we'll hear earnings from the likes of BroadSoft (BSFT), Changyou.com (CYOU), Clean Energy Fuels (CLNE), Ctrip.com International (CTRP), Entergy (ETR), Express Scripts (ESRX), Humana (HUM), IntercontinentalExchange (ICE), Live Nation Entertainment (LIVE), Pharmacyclics (PCYC), SBA Communications (SBAC), Silver Wheaton (SLW), Tesla Motors (TSLA), Time Warner Cable (TWC), Walter Energy (WLT), Weight Watchers International (WTW), Transocean (RIG), and Zillow (Z).