US100 / Nasdaq 100 shortUS Tech 100 Index CashFPMARKETS:US100TradewithArzhangMarket Structure The broader structure has shifted bearish. Price first built a bullish structure from the 29,250–29,300 area, then formed liquidity around 29,480–29,500. That liquidity was taken before a sharp bearish displacement. The key structural event is the break below the previous support/BOS area around 29,240–29,250. This acts as a bearish CHoCH, signaling that the prior bullish structure has been disrupted. The subsequent impulsive move below 29,200 strengthens the bearish continuation case. Unless price can reclaim the broken structure, the current structure favors lower prices. Supply & Demand The upper supply around 29,380–29,400 is strong because price previously reacted sharply downward from this region. The higher 29,480–29,500 area is even more significant because liquidity was formed there and then swept before the large selloff. Below, the 29,000–29,030 demand zone is the nearest major demand area; this is where buyers could potentially step in after the aggressive decline. Marked Price Action Price is currently around 29,110, after a very strong bearish impulse. The small consolidation around 29,150–29,200 looks corrective rather than a confirmed reversal. Your marked path suggests a retracement toward approximately 29,180–29,200, followed by another bearish leg. The key scenario is therefore pullback → rejection → continuation lower, with the 29,000–29,030 demand zone as the primary downside objective. A clean break through that demand would expose lower levels. Trade bias: Bearish. Expected direction: Down after a possible short-term pullback. Key invalidation: sustained reclaim above ~29,200–29,250, particularly if price begins holding above the broken structure. That would weaken the immediate bearish continuation setup. Momentum Momentum strongly favors sellers. The large consecutive bearish candles and displacement through multiple support levels show aggressive selling pressure. The current small candles indicate a temporary pause/correction rather than strong buyer control. A rejection candle around 29,180–29,200 would provide additional confirmation for the bearish continuation. News / Macro Catalyst There is a major macro catalyst supporting the bearish setup today. U.S. equity futures are under pressure as oil rises above $92, Treasury yields move higher, and renewed U.S.–Iran tensions increase inflation and risk-aversion concerns. Reuters reported Nasdaq futures leading the decline, down roughly 0.9%, while rising yields and oil were weighing particularly heavily on technology stocks. Today's calendar also includes U.S. manufacturing PMI/ISM data, JOLTS job openings and construction spending, while the market is already looking ahead to Friday's employment report. These releases can increase volatility around the technical levels. Overall: The technical structure and current macro environment are aligned bearishly. The cleaner setup is to watch for a corrective retracement into 29,180–29,200 rather than chase the current selloff, then look for evidence of rejection and continuation toward 29,000–29,030.