The NASDAQ 100 Industrial Index, which comprises the 100 largest US companies by market capitalization, is trading around 26,953 points.

The NQ 100 is recovering after hitting a low of 26,273 points and has returned above the Murray 2/8 line, within the downtrend channel that has been forming since October 22.

Companies such as SanDisk Corporation and Astera Labs fell 16% and 17%, respectively, and other companies reporting negative results contributed to the sharp decline in the NASDAQ.

The H4 chart shows the losses recorded during the trading session on Thursday, November 5. If the NQ consolidates above the Murray 2/8 level, around 26,562, in the coming hours, this could be considered a buy signal with targets at the Murray 3/8 level, around 27,343. Ultimately, we expect the index to reach the Murray 4/8 level, around 28,125.

If the NASDAQ pulls back toward the 2/8 Murray level in the coming hours, it will be a buying opportunity, with a target of 28,125 (4/8). Conversely, this zone could also be considered an opportunity to open short positions, anticipating that the index will return to the 2/8 Murray level.