Nasdaq 100
NeutralArchived analysis from Sep 3, 2026, 1:32 PM
Key insight
29,191 holds above the Aug 28,567 low (+2.2% recovery), but QTD underperformance vs. S&P 500 flags fading tech leadership. Reclaim 29,500 to turn short-term bullish; lose 28,900 to confirm re-test of the May 2026 lows zone.
29,191 stalls near Aug swing high — NDX is lower QTD while Dow/S&P post back-to-back quarterly gains; sector rotation away from tech caps upside.
Main risk
Geopolitical shock — US strikes Iran
Dow shed 370 pts on US-Iran strikes; energy sector up 21% QTD signals capital rotating out of NDX mega-cap tech into commodities.
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