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NDX has encountered resistance at the 28000 level twice, while 26616 marks the recent bottom.
This observation was made by Yuriy Matso.
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Matso has previously tracked notable moves in related indexes. He reported that QQQ dropped 6.6% from its record high in eight sessions, a pattern with multiple historical precedents. In another note, he observed that QQQ closed Nov. 5 at $647.05, down 14.8% from its October record. These past declines have informed recent debates about market direction.