The Nasdaq price has declined and stabilized below the pivot range of 18,920, indicating a bearish trend.
As long as the price remains below 18,760 and 18,920, further downside is expected, with potential targets at 18,420. A break below this level could extend the bearish trend.
For a bullish reversal, the price would need to stabilize above 18,920, with an upward move towards 19,160.
The upcoming release of the NFP and Unemployment Rate will also have a significant impact on the market. Results below expectations would be positive for the indices.