If we actually close below 49,800, it would end up indicating that we are probably going back to 47,100 to maybe 46,200 kind of range in the coming weeks, so that is the setup in the main two indices that we are seeing.
US stocks: Nasdaq, S&P end lower in volatile session as tech stocks retreat
Tech stocks pulled down the Nasdaq and S&P 500 due to valuation worries and concerns over AI spending, falling crude prices bolstered airlines and travel