NAS100: Wave (2) Confluence With VWAP and Volume ProfileUS Tech 100CAPITALCOM:NAS100pricewerkNAS100 | US 100 Cash CFD | 1D Core Idea NAS100 is correcting after a completed impulsive Wave (1) into 30,946. The key feature is the confluence between the volume profile, VWAP, the small Wave (2) zone and the higher-degree Wave (2) zone. This makes the next pullback area more important than a normal retracement. Elliott Wave Structure The preferred count treats the recent advance into 30,946 as Wave (1). The current pullback is likely forming Wave (2). The first support zone sits at: 26,728: 50.0% retracement 25,798: 61.8% retracement 24,476: 78.6% retracement This zone overlaps with the upper VWAP and the orange volume-profile area. That is the main short-term confluence. Volume Profile and VWAP The orange area around 24,500 to 25,800 is important because it aligns with a strong volume-profile shelf. At the same time, the upper VWAP is rising directly into this area. A pullback into this zone would therefore test price, volume and mean-reversion support at the same time. If buyers defend that area, Wave (2) can complete there. Higher-Degree Wave (2) If the small Wave (2) support fails, the next major confluence is lower. The higher-degree Wave (2) zone sits around the blue volume-profile area near 22,000, where the lower VWAP is also rising into support. That would be a deeper but still technically valid correction. This lower zone would likely be the last clean bullish reset before the count starts to lose quality. Key Levels 30,946: major confirmation above Wave (1) 29,574: current price area 26,728: first Wave (2) retracement 25,798: key VWAP / volume confluence 24,476: deep small Wave (2) support 22,000 area: higher-degree Wave (2), lower VWAP and blue volume-profile confluence 16,312: invalidation Bullish Scenario If NAS100 corrects into 25,798 to 24,476 and reacts strongly, the small Wave (2) low may be forming. A reclaim of 30,946 would confirm the next impulsive phase. In that case, the structure supports a continuation into a larger Wave (3). Bearish / Alternative Scenario If price loses 24,476, the correction likely extends into the higher-degree Wave (2) zone around 22,000. That would still be acceptable as long as price holds the lower VWAP and does not break the broader invalidation level at 16,312. Trading Interpretation The setup is attractive because the correction has clearly defined decision zones. The first quality zone is 25,798 to 24,476. The deeper quality zone is around 22,000. Both combine Elliott Wave structure with VWAP and volume-profile logic. Conclusion NAS100 remains in a constructive structure as long as the Wave (2) zones hold. The highest short-term confluence sits around 25,798 to 24,476. If that fails, the larger Wave (2) area around 22,000 becomes the next major level. Above 30,946, the bullish Wave (3) scenario is confirmed.