Has the US stock market trend reversed? Don't chase the early-week rebound! 1. Nasdaq QQQ: Daily and weekly signals are bearish, and there is insufficient evidence to prove that the upward trend has resumed. If it breaks below the first support level around $697 and the rebound is weak, it may continue to test $693, and further weakness could see it reach the $682 area. The most likely path is a dead cat bounce on Monday and Tuesday to near the 708 gap, then a drop back to 690 on Wednesday and Thursday, followed by a slight rebound on Friday. 695 is a strong support zone. 2. S&P 500 SPY: The S&P 500's overall momentum is more resilient and resistant to declines than the Nasdaq. The MACD is below the zero line, indicating weak short-term momentum. The current price reference area is around 759. If it breaks below 759, the next technical support is at 748. If the market closes below 760 this month, it will become clearly bearish. The trend line has been broken, and if the closing price falls below this key level, the market may see a further pullback of about 5% to find lower support levels. Rebound on Monday and Tuesday, followed by a sell-off on Wednesday and Thursday!