Nasdaq decline today rivals the big moves lower in 2024
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The Nasdaq Composite Index is experiencing continued downside pressure, moving further away from its 200-day moving average (MA) at 18,404. The index is now approaching the 38.2% Fibonacci retracement level of the rally from the November 2024 low, which comes in around 17,284. This level will be a key technical test for buyers looking to defend support.
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