NASDAQ Current Phase: NAS100 is in Phase B of a Wyckoff distribution, indicating potential bearish continuation.
Elliott Wave Structure: Completing Wave 5 of a corrective pattern.
Key Resistance: Price likely to face resistance around 19,967 to 20,050 (Fibonacci levels).
Key Support: 19,744.6 is a critical support level, with potential further decline to 19,663.2.
Market Expectation: Expect bearish movement over the next 4 days, with potential short-term retracement before declines.
Volume Monitoring: Increased volume could indicate strong selling pressure, while decreased volume may suggest exhaustion.
Invalidation Level: Breaching 19,996.3 would invalidate the current bearish outlook.
Focus Areas: Watch for price action at resistance and support zones to gauge future movements.
Outlook: Anticipate further downside, with resistance capping short-term rallies.
Overall Sentiment: Bearish sentiment dominates, driven by signs of weakness in market structure.
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