“Be careful of what you seek…” …which, in this case, are tests of the key Jan 26th “Deepseek” gaps.
The major stock index futures (/NQ, Nasdsaq 100 & /ES, S&P 500) are currently testing the “Deepseek'”gaps that occurred when they started trading for the week on Sunday evening, Jan 26th. /NQ is currently testing the top of the “Deepseek” gap which is also price resistance defined by several reaction highs & lows in recent months. Yesterday’s minor TL break proved to be a whipsaw with a new BOD trendline forming just below. 60-minute chart below with the most significant support & resistance levels still marked by the green & red horizontal lines, as per yesterday’s comments.
NQ 60m Feb 6th
/ES is currently testing the bottom of the Jan 26th “Deepseek” gap which is also price resistance defined by several reaction highs & lows in recent months while also backtesting the minor uptrend line from below following yesterday’s breakdown. 60-minute chart below.
ES 60m Feb 6th