USNAS100 | Breakdown Ahead?US Nas 100OANDA:NAS100USDSroshMayiUSNAS100 | Bearish Pressure Below 29540 as Higher Yields Weigh on Tech Nasdaq remains under pressure as the market continues to digest Fed Chair Kevin Warsh’s hawkish Jackson Hole message. Warsh’s stronger commitment to controlling inflation increased expectations for further monetary tightening, pushing Treasury yields higher—an important headwind for high-valuation technology stocks. The Nasdaq ended Friday lower as markets repriced the rate outlook. The fundamental environment remains challenging today as renewed U.S.-Iran tensions have pushed oil prices higher, adding another potential source of inflation pressure while Treasury yields remain elevated. At the same time, strong mega-cap earnings and continued AI optimism provide some underlying support for the technology sector, meaning technical confirmation remains important before expecting a deeper bearish continuation. Technically USNAS100 maintains bearish momentum as long as the price trades below the 29540 pivot level. While below 29540, the price remains under pressure toward 29290. A break below this support would expose the important 29040 level. A confirmed break and stability below 29040 would strengthen the bearish structure and support continuation toward 28600. On the other hand, the market needs to reclaim 29540 to ease the current selling pressure. Stronger bullish confirmation requires a 1H or 4H candle close above 29680, which would support a bullish move toward 29980.