US100 1H: Channel Bottom Test at 28,100 After AI SelloffUS Tech 100 Index CashFPMARKETS:US100KR_TradeCraftThe Nasdaq 100 fell about 3.5% on Friday after weak tech earnings revived doubts about AI spending. The low at 28,093 marked a 10% pullback from the October record and landed on a strong support cluster. Price bounced to around 28,400 into the close. STRUCTURE Falling channel since the October 6 record high near 31,360. 28,920 was the floor of the summer range. It broke on Friday and is now resistance. Support cluster near 28,100: Friday's low, the lower channel line and the 78.6% retracement of the July to October rally (about 28,090). Resistance zone 28,790 to 28,920: the 61.8% retracement and the old range floor. Above: 29,280 (50% retracement), then 29,950 (old range top and upper channel line). Below: 27,750, then the July low area near 27,200. BULLISH SCENARIO 28,100 holds and a 1H candle closes back above 28,920. Targets: 29,250 to 29,280 (50% retracement zone), then 29,950. The idea weakens below 28,100. BEARISH SCENARIO A 1H close below 28,100 breaks the channel bottom and the 78.6% level. Targets: 27,750, then 27,200. Invalid on a 1H close back above 28,920. WHAT I'M WATCHING How price reacts at 28,100 in the first session of the week. US midterm elections on Tuesday 3 Nov and the jobs report on Friday 6 Nov. Nvidia earnings come in mid-November. Volatility is high, so expect wide candles and gaps. Key levels: 27,200 | 27,750 | 28,100 | 28,790-28,920 | 29,280 | 29,950 Educational analysis only, not financial advice.