NASDAQ: Is Warsh putting pressure back on the AI trade?US Tech 100 CashIG:NASDAQProfessorSingapore🔥 What happened? Fed Chair Kevin Warsh used his Jackson Hole speech to bring the market’s focus back to inflation. The message was clearly hawkish: inflation is still above the Fed’s target, financial conditions are not especially tight, consumer spending remains resilient, and the labor market is still close to full employment. That matters for Nasdaq because the index is highly sensitive to rates. If the market starts pricing a higher-for-longer Fed again, long-duration growth stocks and AI names can lose momentum. 📰 News background The key point from Warsh: the Fed needs confidence that inflation is moving back toward the 2% target. If progress is not fast enough, the Fed may still have “work to do.” He also pushed back against too much forward guidance, meaning markets may get fewer clear signals from the Fed and more volatility around incoming data. This is not a direct rate-hike promise, but it is not dovish either. Bond yields reacted more than stocks, which tells us the market is repricing rate risk first. For Nasdaq, that creates a risk: strong AI earnings may still support the index, but a hawkish Fed can cap upside. 📊 Chart analysis Nasdaq is trading around 29,680, trying to recover above the short-term moving averages. Price is above EMA 9, EMA 20 and SMA 50, which keeps the intraday structure constructive. But the bigger resistance is still near 29,825. Until Nasdaq breaks and holds above that level, this looks more like a recovery attempt than a confirmed breakout. RSI is near 62, so momentum has improved but is not overheated. MACD is recovering, but the move still needs confirmation because the Fed tone has become less friendly for risk assets. 🎯 Price movement scenarios Bullish: If Nasdaq breaks and holds above 29,825, the next upside zone is 30,000–30,100. Pullback: If price fails below 29,825, a retest of 29,550–29,500 is possible. Bearish: If Nasdaq loses 29,500, the recovery weakens and downside can open toward 29,350, near the 200 SMA. ⚠️ Not financial advice.