The Nasdaq at 26,690 sits in a resistance zone at 26,600–26,800, where Friday's rate-driven rally meets overhead supply from July's AI de-rating. The index needs bullish support near 26,400–26,500 to target 27,000+ on a soft CPI. Without it, the likely path is a slide toward 25,800–26,000 — especially if CPI surprises hot.

Though, the technical position of the index makes growth unlikely even in a case of a weak CPI, and make correction rather a more probable scenario, as shown on the chart.

Don't forget - this is just the idea, always do your own research and never forget to manage your risk!