NSDQ100 expect elevated volatilityUS Tech 100TRADENATION:USTECTradeNationThe Nasdaq 100 is set for a weaker open as global technology stocks come under renewed pressure. Asian markets have sold off sharply, with the KOSPI down over 8% and the Nikkei falling more than 4.5%, reflecting a broad risk-off move led by technology shares. The biggest catalyst is renewed concern over the AI sector. SoftBank has plunged around 14% after reports that OpenAI could delay its IPO until 2027, while Apple's decision to raise Mac and iPad prices due to surging memory and storage costs has reignited fears that AI-driven infrastructure demand is creating persistent inflationary pressures across the semiconductor supply chain. The Magnificent Seven fell another 2.5% yesterday, extending their correction. Despite the tech weakness, the macro backdrop was more supportive. US May PCE inflation came in softer than expected, reducing expectations of further Fed rate hikes this year. Treasury yields declined across the curve as markets priced a more dovish policy outlook, providing some support for growth stocks. Market breadth was also healthier than headline indices suggested. The equal-weighted S&P 500 and Russell 2000 both posted solid gains, while the Philadelphia Semiconductor Index climbed 3.6%, led by a 15.7% surge in Micron following strong earnings. Geopolitical risks remain in focus after another shipping incident in the Strait of Hormuz briefly pushed Brent crude above $75/bbl before prices retreated again this morning. For Nasdaq 100 traders: expect elevated volatility. AI and mega-cap technology stocks remain under pressure from valuation and inflation concerns, but lower Treasury yields and softer inflation data continue to provide an important counterbalance. Watch whether semiconductor strength can offset weakness in the largest technology names, as today's price action will likely determine whether the recent correction deepens or stabilizes. Key Support and Resistance Levels Resistance Level 1: 30,200 Resistance Level 2: 30,480 Resistance Level 3: 30,790 Support Level 1: 28,670 Support Level 2: 28,230 Support Level 3: 27,823 The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance. To the extent permitted by law, in no event shall Trade Nation (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk. Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.1% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.