Nasdaq Nears Decision Point

Nasdaq remains within its bullish trend channel but is approaching a decision point. The 24,200 and 24,000 levels are two key supports holding back further downside. If these supports fail, it could trigger a multi-day selloff.

So far, the downward pressure has mostly come from regional banks, keeping the decline in Nasdaq limited. However, if concerns over the rare earth supply chain grow due to trade disputes between China and the US, this could trigger a broader selloff in Nasdaq.