US100 SHORT THE AI SELLOFF!US Nas 100OANDA:NAS100USDjinweiangFundamental Narrative: Disappointing Amazon and Intel results last week intensified concerns about AI spending and cash returns, and this acts as a fresh catalyst for continued technology repricing. Furthermore, representative AI cash-flow deterioration has accelerated, although rates and credit provide opposing evidence. We should avoid chasing the decline, as better subsequent earnings and the midterms could support a sharp recovery. Technical Narrative Price looks to be forming a local V-shaped recovery, and the local trendline has been broken. We are looking for stair-stepping / non-violent moves into either short entry level on the grey resistance level or the pink 1H supply level, taking into consideration the red and purple campaign VWAPs.