NAS100 🌍

The macro narrative heading into this session is dominated by high-profile earnings digestion and tech capex re-evaluations across major tech hyperscalers 🏦. While macro headwinds and earnings turbulence have caused short-term intraday volatility, the dominant higher time frame trend remains firmly intact. Interestingly, general online sentiment is heavily leaning cautious to bearish following recent tech profit-taking, with retail consensus currently predicting a deeper sell-off. This growing crowd consensus for a downside expansion sets up a classic liquidity trap, creating ideal conditions for institutional smart money to absorb liquidity before driving the broader trend higher.

Looking at market structure, we maintain a clearly bullish higher time frame bias 📈, characterized by strong break of structure (BoS) prints above prior major swing highs. Under Wyckoffian principles, this recent retracement represents a healthy secondary test and re-accumulation phase within a broader markup cycle rather than a true trend reversal. While community chatter is frantically calling for a structural breakdown, Dow Theory confirms that higher-highs and higher-lows remain unbroken on the macro chart, making the short side a low-probability, counter-trend trap.

Key Zone: Price is currently pulling back directly into a high-volume node and Point of Control (POC) cluster around 29,395 – 29,415 📉. In Auction Market Theory terms, this region represents established value where balanced trade has taken place. This POC aligns directly with the dynamic session VWAP band, forming a powerful technical confluence zone where responsive buyers are expected to step in.

We are currently positioning within a key weekly value area where a sweep of late retail shorts could accelerate momentum back to the topside 🧹. I am actively watching for a liquidity sweep into the POC to wash out weak hands before seeing a firm reclaim. I am completely disinterested in taking short positions if price breaks lower—our focus remains strictly on high-confluence continuation setups.

My Trade Plan 🎯

Bias: Bullish. Remaining patient for structural confirmation before execution.

Entry Protocol: Looking for price to hold current Point of Control support (29,395–29,415) and deliver a bullish Break of Structure (BoS) above the local consolidation high. Once a bullish BoS occurs followed by a successful retest of the broken range high, I will trigger long entries targeting Value Area High at 29,947 and beyond into unhedged upside liquidity 💰. If price breaks cleanly below the VWAP/POC zone, the setup is invalidated and I will stand on the sidelines with no trade taken.