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Good Tuesday Morning, MPTraders! November 25, 2025-- Pre-Market Update:-- News emerged in the wee hours this AM that Mark Zuckerberg (META) purportedly is negotiating to buy Google Chips (TPUs) instead of NVDA chips, which has triggered algorithmic selling in NVDA (-4%) in pre-market trading. My attached 4-Hour Chart shows NVDA weakness is pressing toward a full-fledged retest of last Friday's pre-market spike low at 172.93-- if violated and sustained on a closing basis, will project downside continuation toward 164-167 next... Last in pre-market is 174.49...
This strong move off the lows over the past several days has certainly exceeded my expectations and keeps the path to new highs alive. With that said, we’re now approaching the upper end of the resistance zone for a potential larger top, one that still could take us back under last week’s low, as we only have three waves up off that low.Of course, because we are still likely dealing with an Ending Diagonal on the larger degree structure, even a three-wave start doesn’t eliminate the potential for new highs.
The 7000 mark has been the focus of almost every analyst and investor for many months now. And, yes, there is certainly a path there at this time. So, while I am going to lay out the path, I am also going to provide you a splash of cold water presented in the IWM daily chart.First, it is quite clear that the market has held the important 6550SPX region for at least the 5th time in the last 3 months since we broke out over it.
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