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Chip-Led Selloff Pressures E-mini S&P and NQ: Can Key Supports Hold?

Morning Express

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E-mini S&P (December) / E-mini NQ (December)

S&P, yesterday’s close: Settled at 5862.75, down 45.50

NQ, yesterday’s close: Settled at 20,342.00, down 277.25

Monday’s exuberance quickly dissipated, and a chip-led selloff erased the E-mini S&P’s gains on the week and pinned the E-mini NQ back in range. ASML cut its net sales guidance for 2025, and the stock plunged 16.26% after reporting a day earlier than scheduled, by accident. The reality is, in such a scenario, the company should have lowered expectations weeks ago and the mishandling likely weighed further on the stock. The Dutch company faces an uphill battle given restrictions on China shipments imposed by the U.S. and Netherlands. Additionally, we see this as a harbinger of a disappointing PC cycle, something related to companies like Intel, rather than those more closely associated with NVDA and the evolving AI story. ASML is down another 4% ahead of the opening bell.

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Price action rolled over sharply in the first hour of trade, but the selling began to subside as the session unfolded. In other words, it was not a relentless follow-through day. However, that is what matters here today. Will supports hold? While we did have major three-star support in E-mini S&P futures near settlement and adjusted to align with such, we have a critical area below there at 5843.25-5848.75. A ping, hold, and rally off this support would demonstrate a classic ‘stop’ sweep. The bulls must step up to defend this weakness or the E-mini S&P could also fall back into range, which sets up a longer consolidation process before rebounding to recent highs. Accordingly, we have reduced our Bullish Bias. Similarly, we have major three-star support in the E-mini NQ at….

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Futures trading involves a substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Blue Line Futures is a member of NFA and is subject to NFA’s regulatory oversight and examinations. However, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians, or markets. Therefore, carefully consider whether such trading is suitable for you considering your financial condition.

With Cyber-attacks on the rise, attacking firms in the healthcare, financial, energy, and other state and global sectors, Blue Line Futures wants you to be safe! Blue Line Futures will never contact you via a third-party application. Blue Line Futures employees use only firm-authorized email addresses and phone numbers. If you are contacted by any person and want to confirm your identity please reach out to us at info@bluelinefutures.com or call us at 312- 278-0500

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