The Nasdaq 100 struggles as investors rotate out of growth stocks amid an uncertain outlook.
The break below last July’s low (14450) has pushed the index into a deeper correction. A bearish MA cross on the daily chart points to a downgrade in market sentiment.
An oversold RSI has caused a temporary rebound, which would be an opportunity for trend followers to sell into strength. 14330 is the next support. Short-term traders who are brave enough to buy the dips must push through 14850 to secure a foothold.
