Nasdaq Correction Coming?

With most of the FAANG equities holding a sell rating from analysts at the moment, there is no reason to believe that we will go higher from this point. Expect to see a correction back down into the correction zone to cover shorts and switch to long positions.

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Semi-conductors that have led the rally are also pulling back, which further supports our theory of this correction down.

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Shorted at 5670 Covered at market close at 5589.