NAS100: Riding the Bearish Trend Intraday – Short Play Confirmed

Market Outlook

NAS100 remains firmly in a bearish trend. The current price at 21426.94 is sitting well below the day's high of 21536.53, with a -0.34% drop today. The trend is your friend, and the underlying cautious sentiment around tech growth stocks continues to put pressure on the index. Simple is best; we follow the flow.

Intraday Short Play

I'm looking for an intraday short on NAS100. My entry is set for 21453, targeting a bounce back to prior support now resistance. Stop loss is aggressive at 21585, just beyond the 21550 resistance level. Take profit is down at 21124, expecting a solid push below the 21317.35 support. Let it play out. Could be a textbook entry.