Can Equity Indices Regain Upside Traction Ahead Of Wed's NVDA Earnings Report?

Good Tuesday Morning, MPTraders!  November 18, 2025-- Pre-Market Update: More of the same stair-step selling pressure that is threatening to invalidate my bullish Coil formation, which will morph the correction off of the ATH into a deeper, possibly total retracement of the upleg from the October 10 pivot low at 6540.25 to the October 30 ATH at 6953.75. The $64,000 question:  Can or will the index (ES) regain some upside traction ahead of tomorrow eve's NVDA Earnings report?...

My attached Hourly ES Chart shows the price structure circling 6665, which is just under the lower boundary line of the Coil formation, but above the overnight unconfirmed low at 6635.50 and the 11/07/25 low at 6655.50, suggesting to me that the index is experiencing "the beachball effect" (weakness that doesn't remain submerged) ahead of a potent recovery rally. 

That said, to regain upside traction, ES needs to climb and sustain above intraday resistance at 6676 to 6686. In the absence of a climb through intraday resistance, ES will remain vulnerable to revisiting the overnight low at 6635, which in turn, increases the likelihood of a full-fledged return to the October (10 and 17) low-zone from 6540.25 to 6571.25... 

From the perspective of my Big Picture Daily Chart, ES shows today's fourth consecutive Red Candle is approaching key support initially at the up-sloping 100 DMA at 6600, and below the AM, prior pivot lows established in mid-October from 6540 to 6570. 

A close today below 6655 will invalidate the (lower boundary of the) Coil Formation and argue for downside continuation that presses into the support window from 6540 to 6600. A close above 6670 argues that the bullish potential of the Coil Formation from the ATH remains viable... Last is 6666.50...