NASDAQ Short Bias // Sweeping Late Shorts Before the FlushUS Tech 100 CashIG:NASDAQAndyMorganNASDAQ looks incredibly heavy, but shorting the hole right here is a trap. The tech dump is way too obvious with the election chaos hitting tomorrow. The Fundamental Backdrop Tape is bleeding on weak macro data and midterms pricing in a Democratic sweep. High-beta tech is toxic right now. Big money is just dumping risk and hiding in cash until the dust settles. Technical Perspective We took a brutal, straight-line flush last week. Price chopped around the London and NY highs today before puking again. At first glance, it looks like a clean structural breakdown, but the broader market says otherwise. POI (Entry Zone): 28,750 — 29,250 Target: 28,090 How I’m Trading This Fear is driving the tape with bad data and midterms acting as a massive overhang for Nasdaq. We saw a relentless, no-pullback flush last week. Looking at today's action, we tagged those London and NY highs before taking another dive. It looks like structure just completely broke down and price accepted the lower levels, but that is fake. Look at the SPX500 correlation: The broader market never actually broke its structure. S&P held up perfectly fine. Because of that divergence, expecting them to squeeze NDX higher right at the US open tomorrow. They want to drag price up into that 28,750 to 29,250 zone to sweep all the late shorts. Once the book is clean, looking to fade the rip for the real structural flush down. NFA. Trade at your own risk. // Andy Morgan