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Smack my Head (SMH)

It’s probably nothing but….

Ok, maybe it is something. But this rollover has to pierce the 200 level to be taken seriously.

However, the failure to break above the 2022 highs and 2024 attempted retest of those highs is probably one of the most foreboding technical signals for the NASDAQ and rest of the market as it indicates an underlying rot in the once go-go portion of the market.

Pay attention to what happens to the former leaders as right now the former generals leading the bull market phase up in 2024 are being handed blindfolds and cigarettes.

(title pic via Grok Beta v3.0)

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