The Nasdaq Just Broke a Level the S&P 500 Hasn't Touched Yet
Institutional Cross-Asset Market Intelligence
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The Nasdaq’s pullback is no longer just a pause; it’s an active breakdown. The index has already snapped below its 21-day moving average and violated the rising trendline that carried it from June’s lows, while momentum indicators across daily, weekly, and monthly timeframes are flashing the widest divergence we’ve seen in this chart book all year. The question isn’t whether tech is cooling off. It’s whether this is a healthy reset within the bull market or the first crack in something bigger. We lay out the exact level that decides it, and the support zones that matter if it breaks.
Our chart book, featuring 30+ charts, is attached.
The Nasdaq is breaking down. Where is the next support? Which is the target?
