$MAGS Repeating History? - Nasdaq Oscillator Flashes Caution

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📉 MAGS (MAG 7 ETF) is showing striking similarities to its previous top, right before a 30% drop. Both price action and the Nasdaq Oscillator are echoing that same setup.

🔍 Key Observations:

Price has rallied into a confluence of resistance near the previous breakdown zone.

The Nasdaq Oscillator has returned to a historically high reading – the last time this happened, MAGS topped and dropped hard.

A similar structure could suggest a -30% move, targeting the $32–$33 range.

⚠️ Caution: We’re in a potential bull trap zone. Unless we break cleanly above the red trendline and consolidate, this rally may be short-lived.

🧠 Smart money may already be unloading into this strength.

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