Both /ES (S&P 500) and /NQ (Nasdaq 100) E-mini futures have pulled back to support with a selloff in the overnight session, offering objective long entries on either  (my preference remains /NQ) here with stop somewhat below this morning’s lows.

Keep in mind that /ES is testing a pretty significant support level which is roughly the triple bottom low so far on this current correction which puts it in a very precarious technical posture. A solid break below the recent lows around 2585 could usher in a sharp leg of selling that also takes out the previous lows in /NQ, which has so far been making higher lows since bottoming back on November 20th (a near-term bullish sign so far).

While going long here at support without any decent buy is certainly aggressive & runs an increased risk of being stopped out, the upside potential (reward) more that outweighs the down side (risk) although any swing trade positions taken here would entail two extra days of overnight risk with today being Friday. I will follow up with an update on SPY & QQQ sometime after the markets have opened today & we have a better idea as to whether these support level will have held or not.