Nasdaq 100

Key insight

29,124 consolidates after a multi-month rally; reclaiming 29,500 (July swing high) would confirm extension toward 30,000. Failure below 28,500 shifts short-term bias negative.

29,124 holds above the 200-day MA near 27,800 and the 2025 breakout zone at 28,500 — trend intact, but flat 24h print signals a pause, not reversal.

Main risk

10-Year Treasury Yield Spike

Yields rising above 4.80% historically compress Nasdaq multiples — tech valuations at 2026 highs leave index exposed to duration risk.