Technical Analysis doesn't drive the market up or down. Economic/fundamental factors do.
But, Technical Analysis helps you determine the price level. It also helps you determine what kind of shape a rise or fall can make. Economic factors are not in favor of bulls. For example, rising inflation, rising interest rate, consequence of Russia Ukraine war, etc. and you know the rest. I personally don't short stocks or stock indexes. So, I'm not shorting NASDAQ to target 9500. Rather, I am gonna be looking for buying opportunities in my pre-chosen technology stocks when this index will touch 9500. However, the associated traders of Keon Consultancy are making good money by shorting this on intraday falling swings. Please note that Keon Consultancy uses these ideas in Forex Account Management / Fund Management; however, it doesn't post all the ideas used in trading.