Is This the Nasdaq Top?
Fund Manager Jason Shapiro Thinks So
A daily reversal candle, max long positioning, and a shift in tone—Shapiro lays out his case for a short.
Ed Seykota once said:
“The trend is your friend until the end… where it bends.”
And this market’s been straight up since April.
But yesterday?
Well, we got a gap fill and a fat wick on the daily candle, decent above average volume too.
Could this be the bend? ![]()
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Well, $200m fund manager Jason Shapiro thinks it might be…
SHORT NASDAQ
Shapiro’s thesis:
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Nas dropped despite bullish AI chip news = classic news failure in his eyes.
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Nasdaq positioning is max long. When sentiment is stretched and price stalls… red flag. Trapped traders and an already heavy boat.
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Bonds, metals, and Bitcoin all sold off.
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Strong dollar + weak global bonds = tightening backdrop = trouble. Maybe.
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The general vibe changed. Price action looks tired.
And so because of all that. He’s eyeing a short on Nasdaq with a stop above yesterday’s high.
What could be his target if he pulled the trigger?
Late May’s pullback was about a 4% haircut.
Mirror that, and we’re talking about a 900-point drop from highs as a starter…
Fair play if he’s nailed the top to the day. ![]()
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But what do you reckon?
Top’s in… or just a breather before the next rip higher?
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