Nasdaq 100

Key insight

29,566 consolidates inside a narrow range; break above 30,000 round resistance opens 30,850 measured extension. Dow divergence (−0.1%) confirms rotation into growth over value — a net positive for NDX.

Holds 29,566 with S&P 500 at record 7,679 — tech leadership intact, Oil at $92.6 adds inflation caution but hasn't broken the uptrend from the 28,000 Q2 base.

Main risk

Oil spike reigniting inflation fears

Oil at $92.6 (+1.5%) pushes energy CPI higher; a sustained move above $95 could force Fed guidance to turn hawkish at the next FOMC.