NAS100: Riding the Bearish Wave – A Swing Short Opportunity

Market Overview & Trend Confirmation

Looking at the NAS100, the picture remains distinctly bearish, aligning perfectly with our "trend is your friend" philosophy. The current price sits at 21410.43, reflecting a 24-hour change of -89.57 points, or -0.42%. This negative momentum reinforces the prevailing downward pressure we've observed across the major US indices. The daily range, stretching from 21276.08 to 21544.78, indicates volatility but also a consistent inability for the index to hold higher ground, with rallies often being sold into. From a fundamental perspective, lingering concerns around inflation and the potential for higher-for-longer interest rates continue to weigh on growth-sensitive tech stocks, providing a macroeconomic backdrop that supports this technical bearish bias.

Technical Confluence & My Short Setup

My analysis points to a compelling swing short opportunity on the NAS100. We've seen resistance levels at 21450 and 21500 hold firm, with the intraday high today topping out at 21544.7