NAS100: Below supply. RSI<50. MACD bearish. Short 29530.

#NAS100#

📊 Trade Plan:

🔻 Entry: 29530

🛑 Stop Loss: 30040 (above supply zone)

🎯 Take Profit 1: 28950

🎯 Take Profit 2: 28450 (inside demand zone)

📉 Technical Picture (H4 & Daily):

Supply Zone: Price broke below the 29720–29950 supply zone. Sellers took control — now looking for continuation lower.

RSI: Signal lines crossed below 50 and are pointing down. Bearish momentum intact.

MACD: Lines are sloping down. Histogram shows a brief correction, but the broader move remains bearish.

Demand Zone Below: The 28450–28770 area is the next buyer zone. This is where TP2 sits.

🗞️ Fundamental Note:

Tech stocks are under heavy pressure. The NASDAQ 100 dropped on Tuesday, dragged by a 10%+ sell-off in Micron and Sandisk following SK Hynix's slowdown in AI memory chip expansion. Nvidia fell another 3% as B200 rental prices dropped 31% since late May. Broader risk appetite is fading — hawkish Fed expectations and weak ETF flows across crypto are adding to the downside mood in equities.

❌ Invalidation:

A daily close above 30040 reclaims the supply zone and voids the short setup.