Nasdaq prepares for the bounce

Volatility had grown across all indices indices. The Nasdaq is still lagging after a spectacular drop in NVDA, AMD, and other related stocks.

There is a possibility to observe a sharp pullback for Nasdaq, which would unlikely overwrite the historical highs, but may cover most of the recent decline: that's the usual behavior of the market in the context of rising volatility and a potential bear phase.

Market structure points to a potential beginning of the upswing, which may give a point of entry to the long side with very limited risk and extended potential reward.