Nasdaq 100 Posts 7 Red Hourly Candles in Straight-Line Drop
All seven hourly candlesticks on today's Nasdaq 100 chart closed red, marking a straight-line decline for tech stocks and the largest drop since 'Liberation Day.'
NDX
The Nasdaq 100 experienced a severe selloff today, with every hourly candlestick closing in the red. The index fell in a near-vertical straight line, wiping out gains from recent sessions.
According to market commentary, this was the biggest single-day drop for the tech-heavy index since the so-called "Liberation Day" selloff. The decline hit major technology stocks across the board, accelerating throughout the trading day.
Traders are closely watching for potential support levels as the selling pressure shows no intraday reversal pattern.
Source: The Kobeissi Letter