Chart of the day

Where do we stand fundamentally?

Corporate Updates:

• Humana is expected to report its fourth-quarter results soon, with analysts anticipating a drop in earnings.

• Nest, the UK's largest Master Trust by members, has chosen Nasdaq eVestment to modernize its manager selection and due diligence processes. This decision reflects a trend toward leveraging technology in investment management.

• iLearningEngines Inc. has filed for Chapter 11 bankruptcy and is facing delisting from Nasdaq due to non-compliance related to bankruptcy filings.

Stock Movements:

• Cerence Inc. (CRNC) 's stock price significantly increased after it expanded its partnership with NVIDIA Corp. (NVDA).

• Rigetti Computing (RGTI) is among the stocks discussed in AI and quantum computing company analyses, with mixed sentiments regarding its future performance.

NASDAQ is retesting a strong upside resistance of 22000 again. My KNOWPO trading system indicates a good low-risk short trade here, as I expect a reversal downside to continue further. A rejection from here and a breakout below 21400 are needed for that.

A break above 22000 will invalidate the downside reversal and lead to a continuation higher.

_{You can take a short trade entry with a stop loss above 22100 to target 20800.}