NASDAQ (04/08/2020) - Large Tech Companies still dominate.

FA
+ COVID-19 is preparing to has its peak. However, the question is: Will the US medical supplies and workforce are sufficient to combat COVID-19 in the next few days?
+ Small business loans are not ready.
+ Stimulus check portal is not opened yet (at least 3 weeks delay to receive the money)
+ Upcoming unemployment is expected to be at 14 million (11-14% unemployment rate)
+ Weekly unemployment claims will be released on Thursday (04/09/2020)
+ Fed and US Treasury will have separate conferences tomorrow (04/08/2020)
+ Oil news (04/09/2020).
+ Earnings are being released. EPS is expected to drop by 74%.
+ Fed has already pumped 1.5 trillion dollars. Next, 500 billion dollars will be pumped on Thursday. Please be careful on this day.
+When it comes to NASDAQ, we expect to see a smaller drop due to tech giants earning. Basically, they are less affected by the drop, unless they have retail chains.

TA
+ Buying upside is now riskier than the downside. 5% up vs 10% down at least.
+ RSI is favoring the downtrend.
+ Squeeze momentum is indicating a drop.
+ Scenario 1: Orange (unlikely): Bullish trend.
+ Scenario 2: Yellow (by AI- likely).
Good luck.