Emini S&P March futures fell below 6920/6910 and dropped to 6860/6850. The day’s low was 8 points below this area, and there is still no clear rebound.
Longs at 6860/6850 are planned with stops below 6830. If the market breaks again and closes the week below 6830, that is a short-term sell signal. Targets would be 6815, 6790/85, and possibly 6752.
Lower down, support is at 6730/6700, with a suggested stop below 6705. If we rebound from 6860/6850, upside targets are 6880/6890. Above 6900, the next target is 6920/6925.
Emini Nasdaq March futures moved above 25390, then reversed from 25465. Price then broke below 24990/24900, and the stops below 24800 were triggered.
Downside targets are 24690/24630, and at the time of writing price was about 25 ticks away. Trend line support is at 24500/25400, with longer-term support at 24200/24000 and a stop level at 23850.
Resistance is at 25100/25200, with shorts using stops above 25250.
After last week’s hotter-than-expected January 2026 CPI report, Emini S&P futures broke below minor support at 6920. The market then reached our downside target and support zone at 6860/6850, and made a low just below it. So far, we have not seen a meaningful recovery.
The 6850 area is a key level for the next few days. Any longs need stops below 6830. The market appears to be pricing in the Fed’s message that rate cuts may be delayed. We have not seen this kind of mood since the Q3 2025 supply chain scare. A weekly close below 6830 would be a sell signal, with a likely retest of last week’s low at 6752.
If the weakness continues, focus on stronger support at 6700/6730 as a possible buying area. This zone is a more important longer-term value area. For now, if you go long near 6850, consider taking profits near the 6920/6925 resistance level before the weekend.
The Nasdaq has fallen more, which is common when rate worries return. The move above 25390 was a false break. The market quickly reversed and broke support at 24900. The sell-off triggered stops below 24800 and is now close to the first target at 24690/24630.
More downside is possible, especially with unemployment steady at a low 3.7%, which gives the Fed less reason to ease policy. That could pull the index down to the 18-month trend line near 24500. Longs there need stops below 25300.
If that trend line breaks, the next major support is 24000 to 24200. This area could support a larger rebound over the coming weeks. But after this breakdown, any short-term rallies are likely to stall at resistance at 25100/25200.
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