Yesterday, the Nasdaq 100 Index experienced a significant decline breaking the strong rejecation level, dropping 3.8%—its largest single-day fall since October 2022. This sharp downturn erased over $1 trillion in market value at its lowest point. The broader Nasdaq Composite Index also fell 4% on the same day.
The decline was largely driven by substantial losses in major technology companies, including Tesla, Alphabet, Nvidia, Apple, and Meta. Contributing factors to this downturn include uncertainties surrounding tariff policies, eroding confidence in AI spending, and disappointing inflation and labor data, which have heightened fears of a potential recession.
The price is currently trading below the strong rejection level, which increases the likelihood of a stronger bearish trend.
The price may continue its correction towards the strong rejection level before initiating a decline to break through the support zone, and the support zone may also reject the price before it breaks., ultimately reaching my target at 18,640.
Traders, if you find this analysis helpful or have your own insights, drop a comment below! I’d love to hear your thoughts.
The decline was largely driven by substantial losses in major technology companies, including Tesla, Alphabet, Nvidia, Apple, and Meta. Contributing factors to this downturn include uncertainties surrounding tariff policies, eroding confidence in AI spending, and disappointing inflation and labor data, which have heightened fears of a potential recession.
- The technical analysis
The price is currently trading below the strong rejection level, which increases the likelihood of a stronger bearish trend.
The price may continue its correction towards the strong rejection level before initiating a decline to break through the support zone, and the support zone may also reject the price before it breaks., ultimately reaching my target at 18,640.
- Bearish target: 19715, 19940, 20110.
- Bullish target: 19170, 18970, 18640.
Traders, if you find this analysis helpful or have your own insights, drop a comment below! I’d love to hear your thoughts.
Profit isn’t about luck, it’s about strategy. Get free signals and trade smarter: Telegram Channel [t.me/ArinaMarketAnalysis].
The market is waiting—you can make money, and you should.
The market is waiting—you can make money, and you should.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Profit isn’t about luck, it’s about strategy. Get free signals and trade smarter: Telegram Channel [t.me/ArinaMarketAnalysis].
The market is waiting—you can make money, and you should.
The market is waiting—you can make money, and you should.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.