⚠️ Nasdaq, S&P, and QQQ: May Open Lower but Recover Tonight; Downtrend on Daily Chart Still Looking for Support I lean toward a lower open followed by a recovery tonight in U.S. equities, but that doesn’t mean I’m bullish. The pre-market decline has been excessive—I believe a bounce is more likely first, followed by a continuation of the downtrend after next week’s low-volume gap fill for yesterday’s and today’s gaps. 📊 Yesterday’s price action aligned with my analysis After a high-volume stall the day before, prices began declining yesterday. The Nasdaq formed a low-volume doji, while the S&P and QQQ both declined on higher volume—and pre-market declines continue. 🎯 Key daily support levels to watch: Nasdaq: 25,800 | S&P: 7,600 | QQQ: 700 These are critical daily support levels. If tonight’s session opens lower and continues down with high volume, breaking below these respective supports and creating a new daily low, I would consider the daily trend to have definitively turned bearish. 🔎 Monthly chart outlook remains bearish I expect both the Nasdaq and QQQ to close this month with a high-volume bearish candle. If so, the double-top structure on the monthly chart is confirmed, significantly increasing the probability of a prolonged monthly-level range-bound decline. If next week sees another low-volume daily rebound, I may consider maintaining a bearish bias. For the S&P, the monthly outlook is conditional: if the monthly close settles below 7,600, the false breakout will be confirmed, and a monthly-level downtrend becomes more likely. 💬 After this sharp pre-market drop, do you think tonight will see a lower open followed by a recovery? If this review was helpful, please like it, share it with friends following U.S. markets, and save it for future reference to verify these conditions. #SPX #QQQ