NAS100: Bearish Trend Continues, Eyeing Lower Levels

Trend Confirmation

NAS100 remains firmly bearish. We're seeing it trade around 21399.77, down 0.47% (-100.23) over 24 hours. The trend is clearly down, and "the trend is your friend." Broader market sentiment is looking for reasons to sell into strength.

The Trade

This is a clean setup for an intraday short. My entry is set at 21436. I'm seeing resistance around 21450 and 21500, with the day's high at 21550.11 holding strong. Taking this trade with a tight stop loss at 21616. Levels are clear. We've got support at 21350 and 21300 that could give way, pushing us towards the day's low of 21249.43 and beyond. My take profit target is 20985. The downside potential is significant if this trend holds.