As of now, the bears clearly remain in control with forced selling coupled with bearish technicals putting continued pressure on the market-leading FAAMG stocks. This video provides technical analysis on the US stock market via SPY, QQQ, /ES & /NQ highlighting some key levels & developments to watch.
Bottom line: While a few support levels are highlighted in the video which, if successfully defended, could spark a rally, I just don’t see much in the charts that indicate that the selling is over as it still appears that more downside in the US stock market is likely in the coming days to weeks with the chances for a waterfall-type sell-off increasing with each tick lower in the markets from this point as well as a potential catalyst for such a scenario.