NASDAQ

On the daily chart, we can see that the Nasdaq Composite reached a key resistance zone around the 15929 level where we can also find the confluence of the 50% fibonacci retracement level and the red 21 moving average. This is where the sellers will likely step in with a defined risk above the moving average to position for a drop into new lows. The buyers, on the other hand, will want to see the price breaking higher to invalidate the bearish setup and increase the bullish bets into a new all-time high.