Techselloff — Trading Ideas on TradingView

Nasdaq: Sharp tech drop sets up critical support test Nasdaq slid 2% yesterday in its sharpest tech-led drop since late summer—are we looking at a healthy correction, or could there be a deeper move ahead? Caution returned to tech stocks as AI valuations and a handful of Big Tech earnings disappointed. The broader market also retreated, with traders watching for the next move from both the Fed and the earnings calendar. Key drivers: AI and semiconductor leaders like Nvidia, AMD, and Palantir led the selloff as investors questioned how much further the AI trade can run. Hawkish remarks from multiple Fed officials raised doubts about any imminent rate cuts, even after the recent 25bp cut, fuelling profit-taking in volatile growth names. Top Wall Street banks cautioned about stretched valuations, warning a 10–20% correction was possible as positioning remains crowded in mega caps. Technically, the Nasdaq is pulling back from historic highs, testing median channel support with RSI retreating toward neutral. Key resistances are near 25500 and 25750, with support showing at 25200 and then under 25k. Stay nimble and respect the potential range between 25450 and 25870 as pivotal for the next Nasdaq swing. Wait for strong resistance confirmation, but don’t ignore bounce risk if earnings and data surprise to the upside. This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.

08:39

Nasdaq records near critical resistance! More to go or crash?Strong economic data suggest the soft landing scenario remains intact. Manufacturing strength, combined with improving employment data, appears to provide support. The Fed's dovish pivot also offers liquidity tailwinds, while the Nvidia-Intel partnership signals continued investment in US stocks. But is the market reading the signals? Strong employment data could actually be bearish for equities since it reduces the urgency for the Fed to cut. The Fed's dot plot already shows fewer 2026 cuts (only one instead of three) with higher growth and (slightly higher) inflation projections. The Nvidia-Intel deal also excludes Intel's struggling foundry business, a core problem for the company. Technicals are not too promising either. Multiple resistance factors converge just a tad higher if not at current levels: Long-term trendline from November 2021 138% Fibonacci level Triangle pattern measured move completion 100% Fibonacci expansion target Indicators flash warnings too: RSI second divergence since May (price up, momentum flat) Volume oscillator 13% below zero - lack of institutional buying Missing third-wave volume surge - typical bull pattern absent Fifth-wave characteristics suggesting impulse completion As we trade in the historically worst month for equities, where the NASDAQ typically underperforms the S&P 500 during September selloffs, a high-probability short setup could be underway: Entry : 24,700-24,750 area (resistance test) Stop : Above 25,000 (avoid false breakout) Targets : 23,700 → 22,730 → 22,200 Risk-Reward : Approximately 2.6:1 to first major support Prefer a 5-wave decline if bear case confirms, followed by a 3-wave up, then continuation lower. Watch 24,500 as it appears to be a decision point where multiple technical and fundamental factors converge. This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.

09:12

BOJ Rate Hike Causes Unrest in the Stock Markets: What next?When the Bank of Japan hiked its interest rate at the end of July, global markets went into turbulence. We will discuss what currency carry trade is, why the yen carry trade has caused this global volatility, and, importantly, whether the market will resume its uptrend. Micro E-Mini Nasdaq Futures and Options Ticker: MNQ Minimum fluctuation: 0.25 index points = $0.50 Japanese Yen Futures Ticker: 6J 0.0000005 per JPY increment = $6.25 Disclaimer: • What presented here is not a recommendation, please consult your licensed broker. • Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises. CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com

06:24

NOW is a buy after a down tech stock day LONG NOW is on 15 minute chart with a volume profile overlaid and relative volume and volatility indicators below the chart. NOW had a good earnings beat late January. It is halfway to the next earnings. I think right now software stocks are hotter than hardware/ networking stocks. NOW got dragged down by technology headwinds into its support and the fall got rejected by buyers near to the close of the regular market hours. The lower VWAP bands are confluent with the support zone and confirm deep oversold and undervalued stock price. I believe this is excellent for a long trade perhaps lasting until the run-up before earnings is 6-7 weeks through the buy of a small lot of shares or a call option expiring at the May or June monthly in the range of $750 ( OTM). This will complement existing positions in CRM CRWD and PLTR.

10YR could be over 2% by 4Q21 Economy is recovering quickly. 10YR is expected to hit 2% sometime this year, I suspect it to occur near the end of the 3rd quarter; so the end of summer. Not only will everyone be vaccinated backed by warm weather, low infection/death rates, and reopenings in full-force, we will have less unemployment and a stronger economy leading to higher yields. This could lead to a panic-sell off in risk assets/low-yielding assets. This year is expected to be choppy and this should cause a whole lot of chop as portfolio rebalancing into fixed income picks up.