Ivan Liljeqvist: Nasdaq breaks support and nears 50-week moving average

Ivan Liljeqvist: Nasdaq breaks support and nears 50-week moving average
Nasdaq near 50-week moving average

The Nasdaq has entered a bear trend after breaking a key support level, according to Ivan Liljeqvist. He also notes that the index is now approaching its 50-week moving average.

Liljeqvist highlights that if the current market movement mirrors 2022, a year marked by midterms and conflict, the Nasdaq could still experience further declines.

Liljeqvist previously highlighted a 20 percent surge in Block shares after layoffs and AI adoption. He has also warned of a recent oil price jump tied to prolonged Iran conflict and rising shipping costs. The recent Nasdaq move adds to a string of shifts across multiple asset classes.

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