$NDX ObservationNASDAQ 100 IndexNASDAQ_DLY:NDXBrent_CalverI reviewed the Nasdaq 100 Index to assess its short-term direction. After zooming out to a longer timeframe, I noticed several events that triggered significant pullbacks. Each pullback marked on the chart dropped below the red 50-week moving average, except for our current market environment, which I am labeling as a “possible” A.I. bubble. Based on the chart, I think caution is warranted. I am not necessarily bearish, but the market has rallied quickly since the Iran war-related pullback and has moved in a parabolic way. There appears to be a real possibility of a pullback toward the 50-week moving average, or a sideways move while that average catches up to price. This is not a prediction, but an observation I wanted to share with the community. As always, situational awareness is one of the best ways to manage risk.