NASDAQ Downward Pressure

The great thing about these indexes is that they all move together, they follow the exact same patterns.

We can see the SPX (S&P 500 Index) still trading above EMA50 weekly yet, the NDX is already below it, giving us a hint as to where the SPX is headed next.

Now, EMA10 and EMA21 failed as support two weeks ago already; This is what tells us that the potential switched from Bulls to Bears.

After a close below EMA10/21 (15525-15620), prices start to drop.

Now, the same signal as we saw on the SPX chart can be seen here but with its own 'flavors'.

The NDX peak/ATH came in just recently (higher highs) yet the MACD keeps trending lower (lower highs).

In fact, the MACD peaked in August 2020, giving us a very strong multi-years bearish divergence:
The RSI has also been trending lower and peaked in January 2020, we now have lower highs and bearish momentum:
This might turn into the strongest crash/correction in many years... But there is nothing to worry about.

The market will continue.
The market will recovery.
The market moves in cycles.

After the crash is over we will comeback bigger, better, smarter and stronger.

Namaste.