By Licia Leslie
November 5, 2025
Hi Shoppers,
We had a bit of a selloff yesterday closing down 81points, with the S&P 500 Emini Futures testing but holding (so far) my strong support at $6784:
I say strong because the 21 day moving average and my pitchfork median line together make up that support.
If we collapse below there tomorrow, watch for us to trade down to the 50 day moving average at $6689.49.
That will be another $110 points lower and still our uptrend will be intact.
We begin to trade below $6625, then we could accelerate into a selloff down to $6438.
On the upside, if we hold this all important support at $6784, wait until we trade over $6870 to become bullish once again.
Trade Review
The Johnson & Johnson (JNJ) dragonfly doji did not pan out, yet. Wait for the stock to trade over the most recent highs before going long.
Thank You For Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
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