Remember What Markets Did Last Year? It’s Setting Up Again.

Remember?

We’ve been outlining our déjà vu logic over the past weeks. Nasdaq remains stuck inside the range, but momentum continues to deteriorate. Note the bearish 50/100-day cross now in place, with the 200-day moving average sitting slightly below.

A break below 24,500 (futures), and last year’s déjà vu continues to play out almost perfectly.