Looking at the chart, you can see that the Nasdaq has left the previous channel (broadening) since the end of February.
We also see a clear shoulder head shoulder pattern with the neckline in the 13,100 range.
The following considerations can now be made.
If we take a bearish scenario, yesterday's breakout over the neckline could be viewed as a fake breakout, especially as the two days before the line bounced off as resistance.
If you look at the days after exiting the channel, there is also the possibility that a new resistance zone will form around 13,400.
In my opinion, however, it is incontrovertible that the Nasdaq is assuming that the yield increase will continue and that a bearish scenario is more likely.
We also see a clear shoulder head shoulder pattern with the neckline in the 13,100 range.
The following considerations can now be made.
If we take a bearish scenario, yesterday's breakout over the neckline could be viewed as a fake breakout, especially as the two days before the line bounced off as resistance.
If you look at the days after exiting the channel, there is also the possibility that a new resistance zone will form around 13,400.
In my opinion, however, it is incontrovertible that the Nasdaq is assuming that the yield increase will continue and that a bearish scenario is more likely.