Nasdaq 100 enters correction territoryUS 100 IndexTVC:NDQFPMarkets With chip and memory stocks struggling to find a foothold, the tech-heavy Nasdaq 100 recently slid into correction territory – that is, a 10% decline from highs. Technical studies indicate scope for further underperformance, with support calling for attention between 25,897 and 26,664. Consequently, bearish scenarios could be on the table until this area makes an entrance. The downside support target is made up of horizontal support, an ‘alternate’ AB=CD bullish pattern (the 1.618% Fibonacci projection), a 1.618% Fibonacci extension, a 61.8% Fibonacci retracement, and the 200-day SMA. Written by FP Markets Chief Market Analyst Aaron Hill