Nasdaq Bearish Indicators (MACD & RSI)

Same as we saw with the S&P 500 Index (SPX), we have multiple indicators going bearish on the NDX chart.

This is also true on the weekly timeframe which is 7X stronger than this timeframe (Daily) but we go with this one...

(1) NDX has gone below EMA50; Also below EMA300, MA200 and other important moving averages that we follow.

(2) The MACD has gone below zero and already moving below the signal line.

(3) The RSI is going weak at 40.60, soon moving below 40.

We have the classic ABC correction taking place but I think the correction will be stronger than what we can predict here with the charts.

Something like the worst case scenario as shown for Bitcoin below...
Be prepared.
The charts have been giving us warning after warning for many months.

It is temporary though, after a crash the market recovers but it can take years before the previous high is hit again.

Namaste.