Nasdaq Falls Over 3% Amid Renewed Tech Sell-Off

NDX has experienced a sharp decline of nearly 6% in the last 24 hours, with its RSI dropping to 24.8, entering oversold territory. The MACD line is well below the signal line and in negative territory, indicating strong bearish momentum. The price is trading below both the 20-day and 50-day moving averages, which are sloping downward. The selling wave highlighted in the news headline confirms the current technical weakness. While a technical rebound may occur in the short term due to oversold conditions, the likelihood of the downtrend continuing is higher given the bearish primary trend.

QQQ experienced a sharp decline of nearly 6% amid a wave of selling in Nasdaq technology stocks. Although the RSI has fallen to 24, entering oversold territory, the MACD line remains below the signal line and in negative territory. With the price closing well below the 20- and 50-day moving averages, any short-term recovery attempt may remain weak. Selling pressure continues as highlighted in the news headline, and technical indicators confirm the persistence of the downtrend. Therefore, the likelihood of continued downward movement in the short term remains high.

AAPL has lost more than 6.5% in value, mirroring the selloff in technology stocks on the Nasdaq. Although the RSI has dropped to 22, entering oversold territory, the MACD continues to give a sell signal, and the price remains below both the 20-day and 50-day moving averages. In the short term, selling pressure is likely to persist, though some bargain buying may emerge due to oversold conditions. Overall, the bearish trend remains intact.

NVIDIA (NVDA) fell more than 6% to $202.85, impacted by the broader technology sell-off on the Nasdaq. While the RSI at 32.8 approaches oversold territory, the MACD line remaining below the signal line and trading below the 20- and 50-day moving averages suggest short-term pressure may persist. The headline tech sell-off adds a further negative catalyst for the stock. However, oversold conditions and the low price level also bring some potential for a rebound. Therefore, I approach the bearish trend with medium-high confidence.