Nasdaq 100 Breakdown: Is the Tech Rally Over On Failing Talks?US Tech 100 IndexFUSIONMARKETS:NAS100fxtraderanthonyNAS100 🌍 The macro narrative heading into this week is heavily dictated by the fallout from the failed peace talks over the weekend, which has sparked a resurgence of risk-off sentiment 🏦. While we saw a temporary bounce last week on hope, the breakdown of negotiations has led to a decisive bearish retrace. Interestingly, market chatter suggests that while retail traders are attempting to "buy the dip" based on the previous week's technical strength, the collapse of the truce and the reality of the Hormuz blockade are shifting the landscape toward a structural markdown phase. General online sentiment is leaning toward a quick recovery, but the underlying fundamentals suggest we are facing a potential liquidity hunt where those early buyers are likely to be trapped 📉. We are currently witnessing a clear Bearish Market Structure on the 30-minute chart, characterized by a series of lower highs and lower lows 📉. The price action has broken below the recent consolidation zone, and the failure of the peace talks has provided the fundamental catalyst for this breakdown. My view is that the market is in a distribution phase, transitioning into a markdown. The recent price action has established a local peak, and as long as we continue to print lower highs—specifically staying under the VWAP from that most recent high—the bearish thesis remains the primary play. If price manages to trade bullish and reclaim levels above the VWAP, I will abandon this idea and reassess for a potential range expansion to the upside 📈. Key Zone: The current Value Area High (VAH) near 25,150 is acting as a massive ceiling, aligning with the 100-day SMA. On the volume profile, we see a significant high-volume node around 24,864, which is currently being tested. A failure to hold this 'Value' level suggests a slide toward the next high-volume pocket at 24,360. We are currently trading at the upper end of the medium-term range, but the rejection from the top suggests the "Discovery" phase to the upside has failed for now. I am watching for a "run on liquidity" to sweep the late buyers who entered during the Friday rally before the peace talks collapsed 🧹. The current structure is a classic Wyckoff "Upthrust" followed by a return to the range, and the inability to maintain price above the VWAP is a hallmark sign of institutional selling into retail demand. My Trade Plan 🎯 Bias: Bearish. I am leaning into the downward momentum, but patience is required to ensure we don't get caught in a dead-cat bounce. Entry Protocol: I am looking for a retest of the recent lower high or a rejection from the VWAP (currently sloping down from the peak). The primary trigger will be a bearish engulfing or "SFP" (Swing Failure Pattern) at the 24,950 resistance level. Target 1 is the Point of Control at 24,864, with a secondary target at the structural support near 24,360.