Nasdaq 100

Key insight

30,728 is a pause zone: Gold +0.4% and Silver +1.7% absorbing flows while Nasdaq flat suggests hedging, not conviction. Resistance at 31,200 (Q3 swing high) must break to extend the bull trend.

Holds 30,728 flat after a multi-month run — Gold at $4,360 and BTC weakness signal risk-off rotation that caps near-term upside without a fresh catalyst.

Main risk

Yield spike / hawkish Fed pivot

USD/JPY at 157.4 with a firm dollar flags elevated rate expectations; a renewed yield surge above 5% would hit NDX multiples hardest.