How will the market move this week? Nasdaq might drop another 8%! 1. Nasdaq 100 QQQ In the short term, it might rebound first before continuing to fall. Last week, Nasdaq had a brutal drop, and its technical pattern has clearly weakened. After hitting a historic high, it faced heavy selling pressure, which looks like funds gradually retreating at the top. Next, it might rebound to around 725-729, but if it fails to break through, be cautious of another drop. The real concern is that there could be an additional 8% correction ahead, possibly falling to around 670. However, if the rebound strongly breaks through the upper resistance, a V-shaped recovery can't be ruled out. 2. S&P 500 SPY Compared to Nasdaq, the S&P 500's trend isn't as bad for now. Although it also fell last week, key support is still holding at around 765. The focus now is whether this level can hold. If the support breaks, there could be another ~5% correction, and the quarterly gap might get filled. It's not time to go fully bearish yet. 3. Semiconductor ETF SMH The semiconductor sector has been down for 9 consecutive trading days, and it's now right at the key support area of 530-540. This level has held multiple times in the past, so there's a decent chance of a technical rebound in the short term. If it rebounds, keep an eye on the 570 level, and if it's stronger, it might even challenge 590. However, just because it's been down for 9 days doesn't guarantee the 10th day will be up—this support level could still be broken. 4. Big Seven ETF MAGS The Big Seven index is still holding at the key support level around 70. As long as this level isn't broken, the overall trend hasn't completely deteriorated. But in the latter half of last week, there was noticeable heavy-volume selling. If the key support is lost, there could be significant downside ahead. Short- to mid-term outlook leans bearish, especially for Nasdaq, but don't go all-in on shorts because a rebound could happen at any time.