Just one trading day after BTIG flagged that history was stacked against Nasdaq bulls, the index made good on that prediction, breaking below its Friday intraday low before Tuesday’s session was even half over.

The Nasdaq Composite sliced through the 25,648.47 intraday floor set during Friday’s brutal chip-driven rout, touching 24,980.38 on Tuesday. 

MRVL stock is moving lower. See the chart and price action here. 

Friday’s session had already dealt significant damage, with the index shedding 4.18% to close at 25,709.43. It was the worst single-day drop since April 2025, fueled by disappointment after Broadcom Inc. (NASDAQ:AVGO) declined to raise its AI chip revenue outlook.

In a Monday note, BTIG chief market technician Jonathan Krinsky laid out the historical case: in 17 of the 21 prior instances where the Nasdaq fell 4% or more on a Friday, it broke that Friday’s intraday low the very next Monday. 

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