The nasdaq futures is currently at a major resistance where the market "broke" above the "rising channel" or like I like to say "bear flag". My personal view is that this week felt like a pump which can be followed by a dump!
There is also a rising wedge. If the nasdaq breaks below the rising wedge than this would be very bearish and I would expect a sharp decline.
There are also weakness signs as small cap technology is not doing better than the large cap tech which is bearish because small cap tech speculation would start to go up be the Federal Reserve "may" slow the pace of interest rate hikes. This is just my opinion, but I feel that the fed will lower rates because they will break the economy but will cause more selling to continue.
There is also a rising wedge. If the nasdaq breaks below the rising wedge than this would be very bearish and I would expect a sharp decline.
There are also weakness signs as small cap technology is not doing better than the large cap tech which is bearish because small cap tech speculation would start to go up be the Federal Reserve "may" slow the pace of interest rate hikes. This is just my opinion, but I feel that the fed will lower rates because they will break the economy but will cause more selling to continue.