The Trust Layer for Market Analysts

The Nasdaq 100 Index (NDX) has shown signs of a bearish trend on the weekly chart. Multiple sell signals have been observed, indicated by red candles and specific numerical markers (7 and 8) on the chart. The index has experienced a significant drop from its peak, which was around 30,700.00, and has broken through several support levels. The price has fallen approximately 6.04% from a recent high, reaching towards the 28,957.60 level. There are also noted gaps on the daily chart that have been filled, reinforcing the bearish sentiment. The current price is approximately 30,562.91. The analysis suggests a target price of 28,957.60. A failure bound for this bearish prediction is set at 31,000.00, meaning if the price were to rise above this level, the bearish outlook would be invalidated. The overall market sentiment depicted is one of a healthy correction, with potential for further downside movement.