Nasdaq 100

Key insight

30,500 capping intraday rallies while Dow and DAX lead — rotation away from tech into value compresses Nasdaq relative to broad market; break above 30,500 needed to re-engage bulls.

30,469 holds flat (-0.03%) as Dow outperforms (+0.7%), signalling rotation out of mega-cap tech into cyclicals; Nasdaq stalls below the 30,500 round-number resistance.

Main risk

Cyclical rotation out of mega-cap tech

Dow +0.7% vs Nasdaq flat confirms sector rotation; 30,500 resistance holds and risks drift toward 50-day MA near 29,800.