Nasdaq futures bounce near November lows. Is the correction finally over?

The Nasdaq has shown signs of recovery after a three-day decline, nearing November lows. The decline’s catalyst remains unclear, although it coincided with the release of Anthropic's new AI tool which threatens to disrupt much of the software industry. Market dynamics indicate caution, likely linked to tight financial conditions stemming from a spike in the US economic surprise index. Upcoming reports on the NFP and CPI will be crucial for traders, with positive news potentially boosting bullish sentiment. On the daily chart, dip-buyers are entering at November lows, while on the 4-hour chart, a minor upward trendline suggests bullish momentum with a resistance target at 25,188. The 1-hour chart reinforces this view with the upward trendline providing support. Traders should watch for market reaction to upcoming economic data for further signals.