NAS100: Bearish Momentum Continues - Targeting Further Downside on Tech Weakness

Analyzing the Trend: The Path of Least Resistance is Down

Good morning, KoraFX community. Daniel Thompson here, looking at the Nasdaq 100, or NAS100, this morning. The data is compelling: we're seeing continued bearish pressure. The NAS100 is currently trading around 21367.49, down -132.51 points (-0.62%) over the past 24 hours. "The trend is your friend," and right now, that trend is clearly pointing lower. We've seen the index struggle within its day range of 21168.73 to 21566.25, with institutional order flow appearing to favor the sell side. This persistent weakness suggests that any bounces are likely to be met with fresh selling pressure.

Technical & Fundamental Confluence

From a technical perspective, the NAS100 has been unable to convincingly break above key resistance levels. We saw resistance firmly hold around 21400 and 21450, with the absolute daily high at 2