After the FAANG index climbed historical highs, the Nasdaq index also tried tom to follow its footsteps. Currently the technology index is in the reverse. This may be a profit-taking effect, similar to that we saw in Europe following the ECB decision, caused by the mixed data from the US labor market. Also recent data on the number of new coronavirus cases in the US is also not optimistic. Florida reported 1317 new COVID-19 cases and that's a 2.4% rise in total cases compared to the 7-day average of 1.6%. That's the largest jump since mid-April and Wednesday's numbers were also elevated.
Nasdaq-100 (US100) is currently trading at its lowest level since June 2. If the H4 candle closes at current or lower levels, then a bearish engulfing pattern will be formed. Source: xStation5
