Nasdaq 100
BullishArchived analysis from Aug 21, 2026, 8:19 PM
Key insight
29,300 acts as intraday pivot — break above 29,500 Aug swing high opens a run to 30,000 round number; failure re-tests 28,800 50-day MA. Gold surge to $4,617 flags macro hedge demand alongside tech longs.
Holds 29,300 after a sustained 2026 uptrend; Gold at $4,617 and BTC +6.3% signal risk-on rotation. Mega-cap tech breadth intact above 50-day MA near 28,800.
Main risk
USD/JPY at 159 — yen carry unwind risk
Spike above 160 then sharp reversal could trigger carry unwind, pressuring leveraged Nasdaq longs as in Aug 2024.
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