In our previous article, “Nasdaq 100 Pullback: Eyes on 20,700–21,100 as Healthy Correction Unfolds,” we anticipated a retracement in the Nasdaq 100 after a parabolic run. The market followed that view, stalling below key resistance and showing early signs of structural fatigue.

🔄 What’s Happened Since?

Despite several bounce attempts, the Nasdaq 100 has struggled to build fresh upside momentum above 23,250. Price action now reflects tightening volatility and indecision — a classic sign of a market gearing up for a move.

Key developments include:

• Earnings Underwhelm: Early Q3 results have lacked strong guidance, failing to justify extended valuations in tech.
• Rates & Yields: Sticky inflation keeps the Fed cautious, and rising bond yields continue to act as a headwind for growth stocks.
• Rotation Watch: Sector rotation into defensive and value names is slowing Nasdaq’s pace and increasing downside risk.

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📊 Technical Structure: Key Levels in Focus

The current consolidation above 23,000 suggests buyers are still present, but upside traction is fading. We are closely watching:

• 23,100–23,250 Resistance: Multiple failures here show supply is outweighing demand in the short term.
• 22,250 Support: This level remains our tactical pullback target — a natural zone for rebalancing before any broader move higher.
• Break Below 22,800: A confirmed break and close below this threshold could accelerate downside momentum.

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🎯 Strategic View

We continue to view this pullback as a healthy technical correction — not a reversal. The parabolic rally needed to cool, and the current price action offers a reset.

📌 Our short-term strategy:

We remain tactically bearish while below 23,250, with a downside target at 22,250. That area represents a potential re-entry zone for long-term bulls.

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⚠️ Key Risks to Monitor

• Tech earnings volatility: Surprise beats from major tech names could spark a short squeeze.
• Macro sentiment shifts: Any shift in Fed rhetoric or geopolitical landscape could move Nasdaq quickly.
• Liquidity pockets: With lower summer volumes, breakouts or breakdowns may exaggerate short-term moves.

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🔗 Revisit the Original Outlook

👉 https://fxeqtrading.com/nasdaq-100-pullback-eyes-on-20700-21100-as-healthy-correction-unfolds/

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