NDX Looks Fixed — Breadth Says “Mostly”NASDAQ 100 IndexNASDAQ_DLY:NDXTradeSentinelNotesNDX Market Pressure: The Recovery Has Been Accepted 1️⃣ What is it today? Acceptance after Recovery. NDX has recovered from its late-July weakness and is back around the 30,000 area. More importantly, the internals have repaired with it. NASDAQ breadth now shows 69.6% above SMA20 and 73.5% above SMA200, while advancing volume is 61% and VIX/VIX3M sits at just 0.77. This is currently a confirmed recovery, not merely a price bounce. 2️⃣ Thesis The internal evidence supports continued trend acceptance. Short-term participation has recovered, long-term participation remains structurally healthy, positive volume dominates, and net leadership has returned above zero. The late-July stress did not develop into persistent deterioration. So far, the system has absorbed it. 3️⃣ What validates the thesis? Look for: NDX holding above its reclaimed short-term trend references Nasdaq % > SMA20 staying around current levels or improving % > SMA200 remaining above 70% new highs increasing new lows falling materially below the current 68 advancing volume staying dominant VIX/VIX3M remaining below 1 That would confirm ongoing Acceptance. 4️⃣ What invalidates the thesis? The risk is not simply another pullback. The warning would be: new price highs without new internal highs. Specifically: Nasdaq breadth rolls over new lows expand again net new highs weaken advancing-volume advantage disappears VIX/VIX3M rises while price stays elevated That would shift the state from Acceptance toward deterioration / complacency risk.