WS #16083
The Nasdaq 100 has closed below its opening price for nine consecutive trading sessions, a historically rare occurrence that underscores severe technical weakness in the technology and growth sectors. While historical data suggests a mean-reversion bounce is likely after such streaks, the current environment of geopolitical risk and rising oil prices is dampening the probability of an immediate rally. Traders are closely watching for a capitulation volume spike to signal a bottom.
Nasdaq Technical Weakness
The Nasdaq 100 has closed below its opening price for nine consecutive trading sessions, a historically rare occurrence that underscores severe technical weakness in the technology and growth sectors. While historical data suggests a mean-reversion bounce is likely after such streaks, the current environment of geopolitical risk and rising oil prices is dampening the probability of an immediate rally. Traders are closely watching for a capitulation volume spike to signal a bottom.