Home Nasdaq Nasdaq Crashes Through Critical Resistance, Gives Up March Gains

Nasdaq Crashes Through Critical Resistance, Gives Up March Gains

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Things have accelerated south as the day wears on, with US equities all down hard led by a 2.5% plunge in big-tech.

Nasdaa is now down almost 1.5% since the end of February (and down almost 5% from Monday’s exuberant highs)…

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The losses sped up as Nasdaq broke below its 50-day moving-average…

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…and is clinging to the 13,000 level… and 12,800 is the nest level to test

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As SpotGamma warned last night, positive gamma refuses to materially build around current SPX price levels, and as such we are growing quite concerned that markets are increasingly susceptible to a “sucker punch”.

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