Global Chip Sales Concerns Drag Down Nasdaq and S&P 500

The S&P 500 fell 1.5% in the last session to 7398. While the RSI at 32.8 approaches oversold territory, the MACD continues to give a sell signal, and the price trades below both the 20-day and 50-day moving averages. Headlines confirm that global chip sales concerns are weighing on tech-heavy indices. The risk of continued selling pressure in the short term is high, but oversold territory could signal a potential bounce. Therefore, a bearish outlook can be expressed with high confidence.

NVDA shares fell 2.45% to close at $202.22 amid global chip sales concerns. While the RSI at 30.2 approaches oversold territory, the MACD remains below the signal line and in negative territory. The price is trading below both the 20-day ($208.07) and 50-day ($207.62) moving averages, indicating short-term weakness. Negative sector sentiment in news headlines, combined with technical indicators, suggests selling pressure may persist. However, oversold conditions and low price levels could trigger short-term buying interest, so the bearish outlook is strong but not certain.

The news headline reflects negative global sales concerns for the chip sector, which could pressure semiconductor stocks such as AMD. Technically, the RSI at 43.5 indicates weakness below the neutral zone, while the price is trading below both the 20-day (533.37) and 50-day (523.29) moving averages. The MACD line remains below the signal line, suggesting negative short-term momentum. Despite a 2.8% gain in the last close, overall market sentiment and technical structure highlight downside risks. Therefore, a continued bearish trend can be expected in the short term.

The news headline reflects concerns over chip sector sales, potentially creating short-term pressure on INTC stock. Although the RSI stands at 59 in neutral territory, the MACD has just crossed below its signal line, signaling weakness. The sharp 16% rally over the past 24 hours could set the stage for profit-taking. While the stock remains above its SMA20 and SMA50, supporting the medium-term trend, the news flow and RSI approaching overbought territory increase the likelihood of a bearish correction. Therefore, a downward move is expected in the short term.