The Nasdaq 100 weakened after US jobless claims hit a five-month high. The index is struggling to hold onto its gains after it rose above the daily resistance at 12580. A drop below 12400, a former supply zone that has turned into a demand one, indicates a lack of commitment from the buy-side. A combination of profit-taking and fresh selling may depress the price action to the psychological level of 12000. 12650 is the closest resistance and 12920 a major ceiling before the rebound could make a comeback.
