Dow Futures sharp rise followed by big tumble, next areas of support below

If we see a bounce attempt from current levels that pushes back up toward that range, we will see a pullback. Id expect lots of sellers to show up there.

Below current price, there are two support levels Im noting on green on the chart. The first sits at 45,110, a level that previously acted as both resistance and support over multiple touches going back through the years. Price action needs to hold here on any continued weakness, or we start talking about the next level down.

That second reference comes in at 43,586, a deeper zone that the market has respected before and would be the next meaningful area to watch if 45,110 gives way. This is where sentiment starts to shift. A failure at 45,110 with follow-through selling changes the conversation considerably.

Aggressive traders can look to short any touch at the broken channel trendline in the 49,000–49,500 zone, with the break of the trendline to theupside itself as the reference for the stop. On the other side for aggressive traders, buy in at those support levels with tight stops at any break.

More conservative traders scan still short at the upsloping trendline with tight stops with any break. On the downside, conservative traders can wait to buy at the second support level at 43,586 if momentum continues through the first area of support.