Nasdaq has tested our support level at 11,000 and looks like it wont be long before breaking, will it hit the 78.6% Fibo level around 9000, short term bear-market rally seems weak and lack of momentum, first target is 61.8% Fibo around 10,500 which has been our second long term target, overall a break of 10,500 technical target is 9000.

*Market Observations are NOT trading recommendations*