COVID cases continue to spike higher darkening economic reopening. The consumer data shockingly has collapsed recently - including consumer confidence last Friday and retail sales. Several stocks have also stopped reacting positively to good earnings. The inflation reports remain hot, and Federal Reserve taper talk is everywhere.
Technically, the NASDAQ index moves in the uptrend channel. Many indicators show the bearish divergence at the moment. The main support level is about 14K, and the key resistance is $15150.