Nasdaq Crash Warning! A 7% Drop Expected if These 3 Key Levels Are Breached! 1. Nasdaq 100 (QQQ): The recent rebound was a classic dead cat bounce, luring in a bunch of bulls before turning downwards. The Nasdaq rebounded to the key resistance level of 726 before turning back, and the weekly chart also showed the first bearish fair value gap since 2026, indicating significant selling pressure. The key level to watch is whether it can break below last week's low of 701. If it breaks below this level, it could further retrace to the July low of 660, with another 7% downside potential. 2. S&P 500 (SPY): The weekly chart structure of the S&P 500 is also not optimistic. A series of weekly lows at 758, 749, and 729 could be gradually broken, with approximately 5% downside potential. Whether the rebound has truly reversed the trend remains to be seen. If it rebounds to the resistance level and is then immediately sold off, it's more like a last gasp before the storm. 3. Google (GOOGL) dragged down the Nasdaq, indicating a short-term bearish bias. The 52-week range is 267-270, and the price has already fallen 20% from its high of 408, clearly breaking below key moving averages. The daily chart shows a clear downtrend, with prices consistently pressured below moving averages and failing to rebound multiple times. If the closing price continues to fall below 300, the bearish structure will become even clearer. A quick recovery to the $310-320 area could trigger a short-term oversold rebound. After this sell-off, a major Christmas surge is imminent!