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Nasdaq at the Edge: Why September Consolidation Could Set Up the Real Trade
The Nasdaq is sitting on a key support level. Tech's business model has quietly shifted, from cash-rich giants that shrugged off rate moves to companies now leaning on debt markets to fund their AI ambitions, and that shift is starting to show up in credit spreads. Layer in a historically weak September for midterm-election years, plus the live risk of a hawkish Fed, and the setup gets more interesting than it looks on the surface.
Our chart book (30+ daily, weekly, and monthly exhibits) lays out exactly where the key technical levels sit, including the one just 1% below current price that we're watching closely, and what would need to happen for us to treat any further weakness as a buying opportunity rather than the start of something worse.
Full analysis, chart book, and our re-entry targets below for subscribers
Nasdaq - short-term bearish but which is the level to go long again?
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