NSDQ100 Geopolitics and tech sentiment!US Tech 100TRADENATION:USTECTradeNationGeopolitics and tech sentiment are the two dominant drivers for today’s Nasdaq 100 trade. Tensions in the Middle East remain unresolved, with no progress between the US and Iran over the Strait of Hormuz. Reports suggest the US is preparing for a prolonged blockade, while Iran may submit a revised proposal soon. Oil prices have responded by pushing higher, with Brent holding near recent highs. This reinforces stagflation concerns, which are typically a headwind for growth-heavy indices like the Nasdaq 100, given the sensitivity of tech valuations to rates and input costs. However, the bigger immediate pressure on the Nasdaq has come from renewed doubts סביב AI monetisation. Reports that OpenAI missed internal targets triggered a broad reassessment of the AI trade, hitting semiconductors and AI-linked names hardest. The Philadelphia Semiconductor Index saw a sharp decline, and weakness spread across software, cloud, and chip equipment stocks. This is particularly relevant given the heavy weighting of AI-exposed companies in the Nasdaq 100. Despite yesterday’s selloff, futures are rebounding modestly, suggesting dip-buying interest ahead of a critical earnings cluster. Results from major tech leaders (Alphabet, Amazon, Meta, Microsoft) will be pivotal in determining whether confidence in AI-driven growth can be sustained. On the macro side, the Federal Reserve decision is a key risk event. While no rate change is expected, forward guidance is crucial. Any hawkish tilt—especially if inflation risks tied to energy are emphasized—could pressure yields higher and weigh on Nasdaq valuations. A more balanced or dovish tone would support the index. Conclusion: The Nasdaq 100 faces a fragile setup today. Short-term direction will hinge on Big Tech earnings and Fed communication, while rising oil prices add a macro headwind. Expect volatility, with upside dependent on earnings reassurance and downside risk if AI concerns or hawkish signals intensify. Key Support and Resistance Levels Resistance Level 1: 27600 Resistance Level 2: 27780 Resistance Level 3: 27936 Support Level 1: 26660 Support Level 2: 26380 Support Level 3: 26150 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.