The Nasdaq 100 slips as a resilient labour market supports the Fed’s aggressive hikes. A breach below June’s low at 11100 could send the index deeper into bearish territory. The price is testing November 2020’s low at 11000 but the psychological level of 10000 might be at stake. 11700 is the first hurdle ahead and the top of the previously failed rebound at 12070 a key level before short-term sentiment could turn around. The latter also coincides with the 30-day moving average where strong selling pressure could be expected.
