US Futures Decline Amid Technology Sell-Off

Technically, the SPX closed below its 20-day moving average (7482.57), and the RSI has fallen to 47.7, below the neutral zone, indicating weakening momentum. The MACD line is below the signal line and in negative territory, suggesting that selling pressure may persist. However, the price is trading near the 50-day moving average (7469.02), which could act as short-term support. Therefore, while a bearish trend is expected, the decline may be limited as the market has not yet entered oversold territory.

The news headline indicates a wave of selling in technology stocks, with futures declining. This could create short-term negative pressure on the NDX index. Technical indicators are sending mixed signals: the RSI is neutral at 57, while the MACD remains below the signal line, pointing to weakness. Although the price is above the 20- and 50-day moving averages, the selling pressure from the news may lead to a test of these support levels. Therefore, a downward move is expected in the short term.

The news headline indicates selling pressure on technology stocks and a decline in futures. Although QQQ's RSI is at 56, in neutral territory, the MACD has fallen below the signal line, pointing to weakening momentum. While the price remains above the 20- and 50-day moving averages, selling pressure may dominate in the short term. Despite a slight uptick in the last 24 hours, the negative sentiment from the news and weakening technical indicators support a bearish move. Therefore, a downward movement can be expected in the short term.