Nasdaq analysis 23/06/26

Please read this in the context of our weekend analysis. We pointed out that the MAG 7 companies were not participating in the rally and for the rally to continue, the MAG7 should start performing. However on Monday 22nd we had sell off in Alphabet, microsoft and amazon. Even though we recovered, this was a false move. We sold off overnight and took out the daily and weekly low. We were looking for a bounce after the daily and weekly low was taken but the bounce quickly fizzled The price is now clearly bearish and there is a good chance that price will take liquidity or test support. For this reason, we have sold positions at a loss in our model porfolio to raise cash. We will look at how price react at the support zone and then look to redeploy.

Also remember the whole idea of the market rally was for the insiders to get the highest valuation for Space x and now that has been achieved, we can expect atleast some profit taking. We still have the anthropic and open AI IPO but that will likely happen after a liquidity run. This is our current strategy for Nasdaq at Muffett investments.

This is the 4 hour chart and price likely take out the liquidity here. Price can bounce from here but we have to be cautious and until price can close above the blue shaded area, price is bearish.

This is our own analysis and view and not investment advice.

May the Peace of the Lord be with you all.

Praise be to the Lord.