Nasdaq 100

Key insight

29,551 consolidates below the 30,000 round-number barrier; a weekly close above triggers measured extension toward 31,200. Dow's -0.3% lag signals defensive rotation, but Nasdaq's AI-driven mega-cap bid keeps the index resilient.

Holds 29,551 — well above the 200-day MA near 27,200 and the 2025 breakout zone at 27,800, confirming the structural uptrend intact despite flat Monday tape.

Main risk

Treasury Yield Spike / Re-tightening Risk

A renewed leg higher in 10-yr yields toward 5.25% would compress NDX multiples; tech already trades at elevated forward P/E near 30x.