The Nasdaq-100 Index, represented by the Invesco QQQ Trust (QQQ), has officially entered correction territory as of March 7, 2025. The index experienced a low of the day (LOD) and is currently showing signs of a potential rebound after testing a significant support level at 480. Technical indicators reveal that the Relative Strength Index (RSI) is nearing the sub-30 range, with a daily reading of 29, indicating oversold conditions. Analysts note that the QQQ is attempting to confirm a bottom and is fighting to close above the critical level of 493. Despite being in a downtrend, there is speculation about a possible short-term squeeze back up if the index can maintain momentum above this level. The broader market, represented by the S&P 500 (SPY), is also experiencing downward pressure, with various analysts providing insights into potential recovery points.