The NASDAQ bull run is over.

(Chart 1)

(Chart 2)

The NASDAQ bull run, which started in December 7th 2023, which was triggered by the Federal Reserve holding rates steady on 1st November 2023.  As the 10 YR yield and speculative and/or growth stocks work inverse to each other,  the yield collapsed from 4.8% (1/11/2023) to 3.78% 22nd December 2023.  Thus, setting of a rally in debt ladened Tech companies, also on the back of AI, but more so the need for extra servers and storage for AI data, in turn AI chip companies soared to nearly $Trillion plus in their valuations.  Taking the NASDAQ into record highs, touching 18684 and above its price support of 17878.

The sell off began on 10th April 2023, when yields jumped to a 3 month high at 4.55% with sticky inflation, further knocked down when Iran attacked Israel on 15th April and then 19th April when Israel retaliated onto Iranian territory with a stealth missile (from Israel) and explosive quadcopters launched from within Iran by Israeli spies.

Resistance: 17878

Supports: 17243, 16700,16390

Bottom pane:  10 YR yield

Please refer to Chart/s 1 and 2