As we previously outlined, the déjà vu logic in the market continues to unfold almost perfectly. The NASDAQ is now breaking below its 200-day moving average for the first time since last year, almost to the day. This development raises important questions for traders and investors: are they afraid of missing a possible bounce, or a bigger breakdown?

To answer this question, it’s essential to keep a close eye on the 24,000 level in futures markets. This is the line-in-the-sand level that we identified weeks ago, and it could serve as a critical turning point for the market. A breakdown below this level could signal a more significant decline, while a bounce off of it could indicate a potential bottom.

It’s worth noting that the NASDAQ’s breakdown below its 200-day MA is not an isolated event. Other major indices, such as the S&P 500 and the Dow Jones Industrial Average, are also showing signs of weakness. This suggests that the broader market may be experiencing a synchronized decline, which could have significant implications for investors and traders.

In conclusion, the déjà vu logic in the market continues to play out almost perfectly, with the NASDAQ breaking below its 200-day MA and other indices showing similar weakness. The 24,000 level in futures markets is a critical level to watch, as it could serve as a turning point for the market. As always, it’s essential to stay informed and adapt to changing market conditions to ensure successful trading and investing.