NQ along with all major indexes has recorded the biggest drop this week since its COVID drop in 2020. All indexes had been trading in an overbought territory for quite some time and a correction was long overdue. Technically, when an asset class is trading in an overbought or an oversold territory for a very long time, it just needs an excuse in the form of a geoplolitical or economic stimulus to correct itself and bring itself into a territory which is observed / regarded as the right value by the traders in the market. NQ has breached a major support area around 18000 last Friday and there’s no major buyers’ area underneath until one arrives at the pivot around 15700 and the lower area until 15000. Therefore, it’s best to look for shorting the rallies into the area between 19000 and 19300. It’s not safe to trade the lower time frame trading zones as surprise news items this week or the following weeks can lead to markets gapping up or down against our trade positions unless we are in a strong Sellers’ area or a major Buyers’ area.