The Nasdaq is down 2.09% while the S&P 500 has shed 1.01%.Defense Drone Deal Sparks RallyThursday’s surge followed Mobix Labs’ announcement that it signed a binding letter of intent to acquire Vision Aerial, a Montana-based manufacturer of U.S.-built drones.The proposed acquisition would expand Mobix Labs into the fast-growing drone and aerial intelligence market, a sector benefiting from rising defense spending and restrictions on certain foreign-made drones.Mobix Labs CEO Calls Acquisition A “Defining Move”Mobix Labs said the deal would combine Vision Aerial’s drone platforms with its existing expertise in advanced electronics, connectivity and radio-frequency technologies.“This is a defining move for Mobix,” CEO Phil Sansone said Thursday. “We are moving to acquire a proven, American-built drone platform trusted by the U.S. Air Force, the U.S. Navy, and major industry customers, just as demand for secure, high-performance drones accelerates around the world.”MOBX Technical Levels To WatchFrom a trend perspective, MOBX is still in a bearish structure: it’s trading 4.6% below its 20-day SMA ($2.23), 19.6% below its 50-day SMA ($2.64), and 58% below its 200-day SMA ($5.06). The 20-day SMA is also below the 50-day SMA, and the 50-day SMA is below the 200-day SMA—two bearish crossover signals that usually describe a market that’s still trying to repair damage rather than start a clean uptrend.Momentum is more “neutral-to-cautious” than washed out, with RSI at 45.36. RSI measures how stretched a move is, and readings in the mid-40s typically suggest neither strong accumulation nor capitulation—often a setup where price can keep chopping lower unless buyers reclaim key levels.