Volatility is still quite high out there, so the chances of big downfall are somewhat limited, … but non zero!
The graph of Nasdaq will show it all:
There is a nice divergence with WAD2.0 indicator and my personal indicator indicates a correction is already taking place, which is true. But before taking a position, you need to ponder about the volatility and objectives.
Volatility is still high, but a down move results in increasing volatility. So the best shorts start from small volatility. As said before, volatility and price objectives are closely linked together. 8940 is probably worst case objective but reaction lines (not shown) tell me it is an improbable scenario (at least not in straight line). I therefore favor more horizontal wandering for some time, … until we get exciting news like end of pandemic, or US election, or ????