NASDAQ Weekly Chart

We have a very clear signal for down movement. Price bounced from the resistance level with confirmation from RSI and MACD. ADX is below 20 and confirms range market conditions. DMI allows open short trades. Entry level can be below 4756, it's the low of the signal candle. Stop should be placed above the resistance level 4838 and profit target is near the possible reversal zone. You can also open short trades based on the daily chart with the same stop and profit target levels.