NASDAQ…Is the Market Finally Running Out of Steam? July 9 UPDATEUS Nas 100OANDA:NAS100USDAkeelahTradersSo, we posted on June 30 that the Nasdaq was showing signs of weakness and was playing out a structure that we are all too familiar with. So, let's take another look now that it's been 9 days and see what's been happening. I've been watching this Daily Time Frame structure and we've had a Major problem brewing. From the way I trade, there was a Daily Break of Structure DOWN on June 10. The last major Demand Zone for Nas100 was broken on that day, signaling that the Bulls were no longer going to keep pumping it up. It pulled a fake-out retracement and got rejected between June 16-23. That is the cycle I usually look for to confirm the warning signal is valid. In my experience, once this happens, It is 80% likely to fall down to the identified support areas...First, this daily FVG around (26,280 - 26,920). Then, if that doesn't hold, down to the Daily Demand Source at 24,580. Now, the only way it doesn't is if we can get a daily candle to close back up above the Yellow Source Zone. The market has tried 3 times so far to do that and got rejected each time. If you look at the H4 Chart, you can see how the most recent pullback got rejected at what I have marked as the H4 Supply Zone (29,605 - 29,825). This is the most current resistance area. Thursday and Friday could see another fake-out retest of this area. So...I'm looking for the Nas100 to follow this trade plan. It could be a few days or few weeks to play out, so the option chains will be tricky. For any of the individual tech stocks, I'm doing the same kind of analysis to see which ones will follow this overall Nas100 plan or which may diverge based on their own structure. Hope this helps. Would love to get your thoughts! If you enjoy learning how institutions move the market, follow Akeelah Traders here and on YouTube. We post new market structure breakdowns throughout the week, and have started a weekly FREE Live trading class to show how we READ the markets.