Nasdaq tech weakness extends into Asia — more downside ahead? 📈
The selling in US tech stocks is spilling over into Asian hours, and the charts are confirming the bearish momentum. I'm leaning short on $QQQ until we see a clear reversal pattern.
Nasdaq under pressure, momentum favors sellers
I'm watching the Nasdaq closely this morning as Asian session action shows tech names continuing to slide. The weakness we saw in US hours yesterday isn't fading — it's actually accelerating in overnight trading. That tells me the selling is genuine and not just a one-off flush.
From a technical perspective, the QQQ has broken below a key support zone that held for the past two weeks. Volume is picking up on the downside, and momentum oscillators are rolling over. I don't want to catch a falling knife here — I'd rather wait for a bounce that fails to reclaim that broken support, then look to add shorts.
Remember, in a downtrend, the path of least resistance is lower until proven otherwise. I'm keeping my bias bearish on $QQQ for the short term, and I'll stay focused on the price action around the next lower support levels. Patience and discipline win here. 📈
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