Emini S&P shorts at resistance at 6845/6855 worked perfectly with a high for Wednesday at 6857 & a test of 1st support at 6800/6795.
The break below 6790 tested strong support at 6770/6760 & longs were stopped below 6747.
The break below 6747 risks a slide to 6700/6690.
Gains are likely to be limited in this downside correction phase.
Resistance at 6810/6820 & shorts need stops above 6830.
A break higher can target 6860/6870.
Strong support at 6680/6670 & longs need stops below 6660.
Emini Nasdaq shorts at resistance at 25850/25890 worked perfectly with a high for the Wednesday here & a slide to support at 25600/25500.
The break below 25450 retested the correction low at 25300/280.
Longs stopped below 24750 for a sell signal targeting 24600/24550 & we fell as far as 25200
We look likely to target strong support at 25050/24950 with a low for the day expected & even a low for the correction is possible.
However a daily close below 24800 is a sell signal for the start of next week & we can target 24600/24550.
Longs at strong support at 25050/24950 can target 25250/300 & 2550/25600.
25800/850 is not out of the question on the bounce.
Emini Dow Jones tests support again at 47100/47050 but longs need stops below 46900.
On a break below 46900 look for 46650/46550.
We should have strong support at 46500/46400, with a low for the correction possible here but longs need stops below 46250.
Source: https://www.fxstreet.com/news/stocks-correct-to-the-downside-202511070936
