NDX shows bearish technicals with near-term downside risks to specific levels, though breaking above 29,770 would signal a bullish shift.

Let's take a look at the Nasdaq and X indices. I've gone on a bit too long, so I'll leave the VIX volatility index to our members. I have put up an updated chart for the VIX index there for you .

As you can see, there are multiple sell signals on the NDX index.

The question now is whether this could be an early bottom, with the stock market hitting its lowest point at the bottom of the range, or whether we might see another significant decline here.

There is a lot of conflicting information, and that is why we are in a fluctuating range with a correction that cannot go very deep at all . I had predicted the biggest drop of around 7.3%, and now I have adjusted that based on what I see.

Again, this is the same pattern, but I have adjusted the probability of the decline here. This level is 28,660. This is 28,315, and this here is 27,700 and a quarter. Those are the downward targets for the next few weeks, then we move into a more positive period.

Looking at this level here, it is 29,770. It is very close to our current level. If it rises above this level , it will give me a more positive indication overall . Therefore, we will view it as a positive level.