The US stock market, including the Nasdaq, has been consolidating its gains after a strong performance in November. However, the Nasdaq experienced a 10% correction, potentially due to deleveraging from the strengthening Yen. Analysts now see this correction as an incredibly good dip-buying opportunity. The Nasdaq has pulled back to the major trendline around the 18900 level, and on the 4-hour chart, there is a downward trendline defining the current bearish momentum. On the 1-hour chart, the price has been printing higher highs and higher lows. The market expects at least two rate cuts by the end of the year, which could further impact the Nasdaq's performance. Upcoming catalysts for the market include the US Job Openings, US Consumer Confidence reports, BoJ Policy Decision, US Employment Cost Index, FOMC Policy Decision, US Jobless Claims figures, US ISM Manufacturing PMI, and US NFP report. [df8bce60] [d2535047]
