NAS100 Intraday Short: Technical Resistance Holding in Sideways Market

Current Market Context & Technical Levels

Alright team, let's break down the NAS100, which is currently sitting around 21446.03. We've seen a slight dip over the last 24 hours, down -53.97 points or -0.25%, indicating some underlying caution. The market has been exhibiting a sideways trend, oscillating within a defined range today, specifically between its day low of 21365.06 and the day high of 21526.99.
My analysis points to the significant resistance cluster around 21500 and the day's high of 21526.99 acting as a strong ceiling. We've seen price action struggle to decisively break and hold above these levels. This hesitation, even in a sideways market, suggests that institutional order flow might be leaning towards the sell side at these higher bounds.

Trade Rationale & Setup

Given the current resistance holding firm and the market's inability to establish a clear upward break, I'm looking at an intraday short opportunity on the NAS100. My entry point is set at 21472. This level