Nasdaq 100

Key insight

29,050 tests the 50-day MA cluster; a daily close below 29,000 opens a fast move to the Aug swing low at 28,400. Oil at $87 lifts inflation expectations, pressuring rate-sensitive mega-cap tech valuations.

Drop of -1.37% on Sep 1 pushes Nasdaq below 29,200 — key 50-day MA zone — as oil surges +2.5% and gold sells off -2.6%, signalling a risk-off rotation out of tech.

Main risk

Oil spike reigniting inflation fears

Oil +2.5% to $87.3 on Sep 1 raises real-rate pressure on NDX; 10yr yields likely to move higher, compressing tech multiples at 29,000.