Steep one-day drawdown + fear spike often precedes short-term rebounds & so long as $585 holds, the setup favors a reflexive rally back toward $605–$610
This looks more like a sentiment flush than the start of a prolonged bear move (at least for now) so confirmation signals to watch Monday
- 585–$600 is the active panic zone; heavy selling & volatility expansion
- Next major support is $560–$570 which is the base from spring, if this breaks, larger correction risk
- Resistance 1 at $605–$610 is the first bounce target/prior floor
- Resistance 2 at $620–$625 is the intermediate target if rally extends multiple days
This looks more like a sentiment flush than the start of a prolonged bear move (at least for now) so confirmation signals to watch Monday
- QQQ futures (NQ) green premarket +0.5% or more
- VIX down 5–8%
- Mega-caps (NVDA, MSFT, AAPL) showing strong premarket bids
- RSI divergence or a hammer candle near $585–$590 intraday
I am not a licensed professional & these posts are for informational purposes only, not financial advice
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.
I am not a licensed professional & these posts are for informational purposes only, not financial advice
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.