Strong warning: Strong Warning: Big Dip Expected Tomorrow 🚨🚨🚨

I saw the worst scores on tech stocks in this year...

AI gave 0 buyscore to Nvidia...

Technical Analysis of NASDAQ:

Current Market Sentiment:

The NASDAQ is currently experiencing a severe bearish market, as indicated by several critical technical signals:

1. Price Movement and Trend Lines:

• The price is significantly below key moving averages (20-day, 50-day, and 200-day), indicating a strong downtrend.

• The downward sloping green trend lines clearly show a descending channel, with consistently lower highs and lower lows.

1. Volume Analysis:

• Recent trading volume has spiked on down days, signaling increased selling pressure.

• Higher volume on red candlesticks is a strong bearish signal, indicating widespread distribution as investors are selling off their holdings.

1. Relative Strength Index (RSI):

• The RSI is around 35.29, which is in bearish territory, although not yet oversold. This suggests there might still be room for further declines before reaching oversold conditions.

1. MACD (Moving Average Convergence Divergence):

• The MACD line is below the signal line, and both are below the zero line, indicating sustained bearish momentum.

• The histogram also shows negative values, reinforcing the bearish outlook.

1. Bollinger Bands:

• The price is near the lower Bollinger Band, which typically suggests oversold conditions. However, the widening of the bands indicates increased volatility and potential for further declines.

1. Support and Resistance Levels:

• The current support level is around 450, a critical level to watch. If the price breaks below this, it could signal further downside.

• Resistance levels are at 475.5 and 485.29. The inability to break above these levels confirms the bearish trend.

1. Volume Oscillator:

• The volume oscillator is trending downward, consistent with the overall bearish market sentiment.

Conclusion:

The NASDAQ is in a severe bearish phase, with strong selling pressure evidenced by the volume analysis and trend indicators. Key support levels need close monitoring. Without significant momentum shifts or reversal patterns, the bearish trend is likely to persist. Traders should exercise caution, as the technical indicators point to potential further declines, underscoring the seriousness of the current bearish market.