Where is the Nasdaq Index heading?

1. The Nasdaq, which has a high correlation with the cryptocurrency market, has been adjusting for 98 days, with a maximum decline of 14.5%. Currently, the 2-day EMA has formed a death cross.

2. Since 2009, a death cross in the 2-day EMA has only occurred 6 times, with the smallest decline at 18.5%, the largest decline at 37.5%, an average decline of 25.3%, and an average adjustment period of 150 days.

3. Aside from the major bear market in 2022 and the pandemic black swan in 2020, where declines exceeded 30%, other declines were around 20%.

4. Based on the current trend and historical trends, the decline of the Nasdaq has not yet ended. In the next month or two, adjustments will continue, and it will likely drop below 17,000, while the area around 16,000 has very strong support and investment value.