Bears should get their hopes too high.
Here's today's selloff from a weekly-bar perspective; http://bit.ly/4gjl2Wl The futures are still on a 'mechanical' buy following a partial-profit-taking opportunity at the red line (p=6494.25).
That said, the chart hardly guarantees that D=6749.00 will be reached. And if the futures trip a second mechanical buy next week by falling to the green line, that would be just a little too obliging. There is a midpoint support at 6450.00, and a 'd' support at 6377.00. Those are the prices to watch (60m, a=6508.75 on 8/15).
If 6450.00 gives way easily on first contact, that would indicate more slippage to 6377.00. And if that 'd' Hidden Pivot fails, then, yes, Houston, we have a problem. Here's the chart:
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