NAS100: Short Play on Sideways Chop

Market Scan

NAS100 is trading sideways, currently at 21484.98, with a slight negative 24h change of -0.07%. We're seeing price testing the top of the day range around 21507.51 resistance. The overall market sentiment seems to be lacking conviction for a strong push higher right now, which supports a short scalp within this range.

The Play

"The trend is your friend," even in a sideways market you play the edges. I'm looking for a short on NAS100. Entry at 21490, just under that 21507.51 resistance. Stop Loss is tight at 21517. I'm targeting 21422, aiming for a move down towards the 21400 support zone, breaking below today's low of 21462.45. Watching closely how it reacts around this level.

Outlook

This is a quick scalp. If 21517 breaks, I'm out. But if resistance holds, we could see a decent drop. Stay sharp.