The Nasdaq 100 climbed after a decline in US job openings in August. The index bounced off a two-year low (10800) and a close above 11300 prompted short-term sellers to cover their positions. A rally above 11500 would further squeeze the short side and amplify the volatility. The support-turned-resistance 12010 near the 30-day moving average is a major congestion area where stiff selling could be expected. A failure to break free would indicate that the path of least resistance is still down with 11220 as a fresh support.
