The NASDAQ index is down near 1% in trading today. The tech heavy index is now down 6 straight trading days. Nvidia shares are down -3.03%. Amazon is down -1.49%. Meta Platforms is down -2.42%. Apple is down -1.06%.
If you want to buy a dip, the market is dipping.
The index is now down -4.35% for the week. That’s the largest decline going back to March 6, 2023, when shares fell -4.71%. The Nasdaq is on pace for the 4th week in a row lower. The price has moved down around 6.76% from its all-time high.
Technically, the price has traded below the 50% of the 2024 trading range at 15508.22, and also below its 100-day moving average of 15491.05.
This article was written by Greg Michalowski at www.forexlive.com. Source