Emini SP 500 has lost 300 ticks since Wednesday morning

💡 DMK Insight

Emini S&P futures just broke key support at 6665/6655, and here’s why that matters: This breakdown opens the door to a potential test of 6605/6600, which could trigger further selling pressure. Traders should be cautious, as this move comes after a failed attempt to hold above 6685/6695, indicating a shift in sentiment. If we see sustained trading below 6665, it could signal a bearish trend, prompting day traders to consider short positions. Watch for volume spikes around these levels, as they can indicate whether this move is a genuine breakdown or a false signal. On the flip side, if the market manages to reclaim 6685, it could lead to a short squeeze, pushing prices back up. So, keep an eye on these levels and be ready to adjust your strategy based on how the market reacts in the coming sessions.