On the NASDAQ (NQ), about 7% below its highs, the speaker is playing fairly neutral because he does not know which way it breaks. A break below roughly 29,500 could bring a rapid descent, while dips under the rising 200-day moving average have typically seen V-shaped recoveries; that average is the level to watch.

We're going to look at the NASDAQ. We're going to get into that cuz it's enough about that kind of stuff because you guys already know.

NQ, we're seeing a bit of recovery from this, but from the highs, we're actually down just around 7%. So, this is this is a pretty big pullback as as they come. And again, NQ doing the same sort of thing where the the 200 day moving average, which is this orange line, has been moving up and up and up.

And we can see this trading has been very very high volume around this 29,700 level. And if we break below the, you know, 29,500 level around here, if we break this, there could be a rather rapid descent.

And we saw that prior where we saw, you know, six days in a row of trading down. Well, we saw six trading days down. We're seeing a little bounce. Is this is this lagging up for a move down or are we going to spring up?

We really don't know. The expected range for me is from a trajectory standpoint is somewhere along this line, you know, in this range. So, we're kind of in the middle of that. And this is going back a long long ways.

If we were to pull back and look at where where the NASDAQ is going from a trajectory standpoint, we can see it's been trading kind of inside of this. when we see these draw downs uh like last year um they typically have V-shaped recoveries especially once we dip under the 200 day moving average.

So that is the level to watch and right now this is why I'm playing fairly neutral because I don't know which way we're going to break one way or the other.