NSDQ100 under pressure ahead o Nvidia earningsUS Tech 100TRADENATION:USTECTradeNationThe tech-led selloff continues to intensify, with the S&P 500 logging a 4th straight decline and NASDAQ-100 futures under pressure again this morning. The core drag remains AI valuation fatigue, with the Magnificent 7 down nearly 8% from their October highs and edging toward correction territory. Weak macro data and disappointing earnings added to the risk-off tone, pushing the VIX up to 24.7, its highest in weeks, signaling elevated demand for downside protection in mega-cap tech. Global equities are sitting at one-month lows as investors reassess whether the massive AI capex cycle will truly deliver near-term returns. That leaves Nvidia’s earnings after the bell as the pivotal catalyst: analysts expect >50% revenue growth, but with stretched positioning and fragile sentiment, the reaction may hinge more on guidance and sustainability of data-center demand rather than headline beats. Political noise is also picking up but has limited direct intraday impact on NDX for now. Trump’s White House meeting with Saudi Arabia and hints about his shortlist for the next Fed Chair add background uncertainty, though markets will focus more on how the Fed leadership outlook may influence the 2025–26 rate path. Bottom line for NDX traders: Sentiment remains fragile, volatility is elevated, and the near-term direction will heavily depend on Nvidia earnings. A strong print could stabilize AI/tech momentum; a miss or cautious outlook risks accelerating the correction in the mega-cap complex. Key Support and Resistance Levels Resistance Level 1: 25093 Resistance Level 2: 25290 Resistance Level 3: 25510 Support Level 1: 24278 Support Level 2: 24095 Support Level 3: 23910 This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.