The $NDX showing a slight pull back today, mirroring the $SPX action. Current level around 30278.82. I'm keeping an eye on the 50-day moving average as a potential support level. A breach could signal a deeper correction. What are your immediate support and resistance levels for the Nasdaq 100?
Agree on the 50-day MA being critical. I'm watching 30,000 as a psychological support too, below that it could get messy.
I think a deeper correction is already baked in for some, but your 50-day MA point is valid. What's your next resistance if it bounces from there?
The current pullback feels more like profit-taking than a structural shift. I'm looking for a quick rebound unless we see heavy volume on the downside.
My immediate support is closer to 30,100, then 29,800. Resistance around 30,450.
Are you seeing any particular sectors within the NDX showing more weakness? That could give us a clue for the broader index's direction.