The Nasdaq Composite (IXIC) was the first of the three main U.S. stock indices to top out in July 2023. Momentum indicators are signaling more potential downside action.
Weekly Stochastitc has a bearish lines cross and the lower line has only reached 50%. RSI has moved below its weekly moving average line.
MACD has a bearish lines cross.
IXIC could break below its October 2022 bottom sometime in October 2023.