Nasdaq market update: Key technical levels are breaking [Video]
|Market Update: Key technical levels are breaking. We’ve slipped below the 50/55-day and 9/18-day MAs—short-term trend under pressure. RSI turning higher, but stochs still heading down. A bounce is possible, but the weekly chart matters more.
We’ve broken the larger channel and are now sitting on the 21-week MA (24,650 low / ~24,953 MA). Weekly stochastics have turned bearish with divergence—never a good sign.
I’m selling rallies into the 50/55-day MAs + upper base channel. This is NOT a buy-the-dip market unless we reclaim that channel with a strong close. Watch the Nasdaq—it continues to lead SPX/Dow. Nikkei also looking weak.
Trade the short-term setups, but stay aligned with the long-term structure. Volatility is high—stay sharp.
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