NASDAQ 100 Daily Technical Analysis & Setups

NASDAQ 100 Daily Technical Analysis - Wednesday 26 August 2026
Data: Close 26 Aug 2026 | NAS100: 29,224.52 | Change: +15.29 (+0.05%) | Range: 29,096.84 - 29,296.77

DATA NOTE: The index figures above are today's cash close (26 Aug). Of the 40 components, 20 are 26 Aug data (AAPL through AMAT) and 20 are 25 Aug data (BKNG through ORLY) - the second scanner block had not refreshed at the time of writing. Every row in the tables below is tagged with its own data date. Do not treat the 25 Aug rows as today's levels.



MARKET OVERVIEW

The NASDAQ 100 closed at 29,224.52, up just 15.29 points (+0.05%) - a coiled, low-conviction session in a 199.92-point range between 29,096.84 and 29,296.77. The index opened at 29,130.77, probed the highs mid-session, and gave most of it back into the bell.

Volume told the story: 1.02bn against a 260-day average of 1.32bn - roughly 23% below normal. That is textbook pre-event paralysis. The entire tape was standing aside ahead of Nvidia's Q2 print after the close.

VIX at 15.22 (down from a 15.65 open) says the options market was not pricing panic - it was pricing a wait.

The Nvidia catalyst - read this before Thursday

NVDA closed the regular session at 209.66, down 1.59%, and then reported after the bell:
Revenue $96.2bn vs $92.4bn consensus (+106% year on year)
Adjusted EPS $2.22, more than double the year-ago figure
Data centre revenue $89bn vs $86.33bn expected (+117%)
Gross margin held at 75%
Q3 guidance $108bn plus or minus 2%, against $104.2bn expected
AWS announced it will purchase 2 million Nvidia GPUs and adopt the new Vera CPU

CrowdStrike and Salesforce also beat on the same evening. This is a materially bullish overnight catalyst for a 5%-weighted index constituent. Every intraday level published below for NVDA - and to a lesser extent for the semiconductor complex and the index itself - is computed from Wednesday's cash range and will be invalidated by a gap open. Treat Thursday's first thirty minutes as a fresh range, not a continuation.

Bias: Neutral-to-constructive on the daily structure, but the index is short-term corrective under its 20 EMA and momentum is still rolling over. The earnings result is a reason to respect upside; it is not a reason to buy a gap.



TREND STRUCTURE

EMA stack (daily):
EMA 20: 29,327.18 - price BELOW by 102.66 pts (-0.35%)
EMA 50: 29,134.19 - price ABOVE by 90.33 pts (+0.31%)
EMA 200: 27,158.85 - price ABOVE by 2,065.67 pts (+7.61%)

The stack itself remains bullish - EMA20 above EMA50 above EMA200 - which is a healthy primary uptrend. But price has slipped inside that stack, wedged between the 20 and the 50. That is the signature of a corrective pause within an uptrend, not a trend reversal.

Structure: The index topped at 30,762.20 (52-week high) and has since carved a sequence of lower highs: 30,195.72, then 29,677.29, then 29,405.12, then 29,338.77, then 29,296.77 today. Five consecutive lower highs. Meanwhile the lows have stabilised - 28,875.96 on Monday was defended and today's 29,096.84 held well above it. Lower highs into a flat base is a descending wedge: compression that resolves violently. Nvidia's number may well be the resolution.

Phase: Late-stage uptrend in corrective consolidation. The index is 5.00% off its 52-week high of 30,762.20 and 27.94% above its 52-week low of 22,841.42. Over the trailing 260 sessions the index is +22.92%.



MOMENTUM AND VOLUME

RSI(14): 49.15 - dead neutral. No overbought stretch left to unwind and no oversold spring to compress. RSI has drifted down from the mid-70s at the July highs to the midpoint here, which is a clean bearish momentum divergence against the price highs of the last six weeks - price made a marginally higher high in mid-August while RSI made a materially lower high. That divergence has now largely played out through time rather than price.

MACD: 54.07, Signal 103.74, Histogram -49.67 - MACD is below its signal line and the histogram is negative and widening. Momentum is bearish. Critically, MACD is still above zero, so this is a deceleration within an uptrend rather than a trend flip. Watch for a zero-line cross - that would be the genuine warning.

Volume: 1.02bn today, 1.13bn Monday, 1.00bn Tuesday, against a 1.32bn average. Three consecutive sub-average sessions. The visible-range volume profile shows 823.59m down-volume against 560.05m up-volume - distribution is still the dominant flow even on flat days. That is a genuine warning: the sellers are not gone, they are simply patient.

Breadth: Of the 40 components tracked, 23 advanced and 17 declined. 19 of 40 closed above their 60-day VWAP point of control. 19 of 40 have a bullish MACD. Breadth is almost perfectly split - a market with no conviction in either direction.



KEY INDEX LEVELS

Classic pivots for Thursday 27 August (from today's 29,296.77 / 29,096.84 / 29,224.52):
R3 29,515 · R2 29,406 · R1 29,315 · PIVOT 29,206 · S1 29,115 · S2 29,006 · S3 28,915

Camarilla for Thursday:
Cam: S4 29,115 · S3 29,170 · S1 29,206 || R1 29,243 · R3 29,280 · R4 29,334

Resistance
1. 29,296 - 29,327 Today's high stacked directly on the 20 EMA at 29,327.18. This is the single most important level on the chart. Reclaiming and holding above 29,327 flips the short-term structure back to bullish and opens 29,406 (R2) then 29,515 (R3).
2. 29,405 Tuesday's high 29,405.12 and R2 coincide almost exactly. A gap-and-go on the Nvidia number would target this first.
3. 29,677 The 19 August swing high. Above here the descending wedge is decisively broken and 30,195 comes into play.

Support
1. 29,115 - 29,134 S1 at 29,115 sitting on the 50 EMA at 29,134.19, with Camarilla S4 at 29,115 as well. Triple confluence. Today's low of 29,096.84 was a probe just beneath it that was immediately bought. This is the line that matters.
2. 29,006 - 29,023 S2 at 29,006 and Monday's close of 29,023.18. Losing this puts the 28,875.96 Monday low in immediate play.
3. 28,876 - 28,915 Monday's low with S3 just above. Below 28,876 the corrective read becomes a distribution read and the 20/50 EMA cross becomes a live risk.

Round numbers: 29,000 (psychological, aligned with S2), 29,500 (aligned with R3), 30,000 (aligned with the 19 Aug high region).



COMPONENT SIGNALS - ALL 40

Trend uses STRICT EMA classification: close versus each of the 20, 50 and 200 EMA. No "near" or "at". Every classification below was verified programmatically against the raw closes - zero mismatches.

Legend: Ticker · Data date · Close · Daily % · Trend · RSI(14) zone · MACD · % from 52w high · POC

Bullish - above all three EMAs (12)
MRVL 25/08 · 240.38 · +4.88% · Bull (above all) · RSI 56.4 Bullish · MACD Bull · -27.1% · Below POC
MELI 25/08 · 1,997.00 · +2.52% · Bull (above all) · RSI 65.0 Bullish · MACD Bull · -21.6% · Above POC
MU 25/08 · 932.97 · +2.48% · Bull (above all) · RSI 50.8 Neutral · MACD Bull · -25.7% · Below POC
DASH 25/08 · 233.50 · +1.94% · Bull (above all) · RSI 75.4 Overbought · MACD Bull · -18.2% · Above POC
AAPL 26/08 · 313.45 · +1.15% · Bull (above all) · RSI 51.4 Neutral · MACD Bull · -9.0% · Above POC
PYPL 25/08 · 62.27 · +0.96% · Bull (above all) · RSI 71.2 Overbought · MACD Bear · -21.4% · Above POC
MSFT 26/08 · 496.17 · +0.91% · Bull (above all) · RSI 67.4 Bullish · MACD Bear · -10.4% · Above POC
REGN 25/08 · 833.56 · +0.61% · Bull (above all) · RSI 74.4 Overbought · MACD Bull · -1.6% · Above POC
BKNG 25/08 · 213.78 · +0.20% · Bull (above all) · RSI 64.3 Bullish · MACD Bear · -7.4% · Above POC
ABNB 25/08 · 190.50 · +0.15% · Bull (above all) · RSI 73.6 Overbought · MACD Bull · -1.5% · Above POC
ADBE 26/08 · 273.47 · -0.16% · Bull (above all) · RSI 60.8 Bullish · MACD Bear · -26.3% · Above POC
WDAY 25/08 · 194.42 · -2.38% · Bull (above all) · RSI 62.2 Bullish · MACD Bear · -22.2% · Above POC

Bullish - above 20 and 50, below 200 (4)
CEG 25/08 · 278.42 · +1.82% · Bull (above 20/50) · RSI 57.4 Bullish · MACD Bear · -32.5% · Above POC
COST 26/08 · 956.12 · -0.41% · Bull (above 20/50) · RSI 51.4 Neutral · MACD Bull · -12.8% · Above POC
NFLX 26/08 · 81.46 · -0.94% · Bull (above 20/50) · RSI 64.3 Bullish · MACD Bull · -35.7% · Above POC
INTU 26/08 · 345.88 · -3.24% · Bull (above 20/50) · RSI 55.2 Bullish · MACD Bull · -50.9% · Above POC

Bearish - below 20 and 50, above 200 (11)
LRCX 25/08 · 314.66 · +1.45% · Bear (below 20/50) · RSI 48.8 Neutral · MACD Bull · -28.2% · Below POC
CSCO 26/08 · 112.36 · +1.13% · Bear (below 20/50) · RSI 45.9 Neutral · MACD Bear · -13.8% · Below POC
KLAC 25/08 · 183.34 · +0.97% · Bear (below 20/50) · RSI 40.0 Bearish · MACD Bear · -40.4% · Below POC
ADI 25/08 · 373.66 · +0.67% · Bear (below 20/50) · RSI 46.1 Neutral · MACD Bear · -16.2% · Below POC
TXN 26/08 · 261.77 · +0.66% · Bear (below 20/50) · RSI 38.8 Bearish · MACD Bear · -21.6% · Below POC
AMD 26/08 · 481.10 · +0.40% · Bear (below 20/50) · RSI 48.5 Neutral · MACD Bear · -17.7% · Below POC
AMAT 26/08 · 479.76 · -0.06% · Bear (below 20/50) · RSI 40.9 Bearish · MACD Bear · -35.1% · Below POC
MAR 25/08 · 357.77 · -0.67% · Bear (below 20/50) · RSI 46.6 Neutral · MACD Bull · -12.9% · Below POC
GOOGL 26/08 · 342.00 · -1.43% · Bear (below 20/50) · RSI 45.2 Neutral · MACD Bear · -16.3% · Below POC
NVDA 26/08 · 209.66 · -1.59% · Bear (below 20/50) · RSI 46.3 Neutral · MACD Bear · -11.4% · Above POC
CRWD 25/08 · 185.38 · -2.78% · Bear (below 20/50) · RSI 38.8 Bearish · MACD Bear · -18.5% · Below POC

Bearish - below all three EMAs (3)
AVGO 26/08 · 355.59 · -0.32% · Bear (below all) · RSI 34.4 Bearish · MACD Bear · -28.2% · Below POC
ISRG 26/08 · 370.42 · -0.38% · Bear (below all) · RSI 43.8 Bearish · MACD Bear · -38.7% · Below POC
TMUS 26/08 · 179.61 · -1.10% · Bear (below all) · RSI 47.8 Neutral · MACD Bull · -30.6% · Below POC

Mixed (10)
CDNS 25/08 · 331.90 · +5.06% · Mixed (above 20, below 50, below 200) · RSI 49.4 Neutral · MACD Bull · -20.3% · Below POC
SNPS 25/08 · 408.79 · +3.62% · Mixed (above 20, below 50, below 200) · RSI 51.1 Neutral · MACD Bull · -33.6% · Below POC
QCOM 26/08 · 163.72 · +1.97% · Mixed (above 20, below 50, below 200) · RSI 47.9 Neutral · MACD Bull · -37.0% · Below POC
META 26/08 · 576.14 · +1.07% · Mixed (above 20, below 50, below 200) · RSI 48.6 Neutral · MACD Bull · -27.1% · Below POC
FTNT 25/08 · 153.61 · +1.04% · Mixed (below 20, above 50, above 200) · RSI 46.3 Neutral · MACD Bear · -10.7% · Above POC
LIN 26/08 · 490.33 · +0.64% · Mixed (above 20, below 50, above 200) · RSI 48.3 Neutral · MACD Bull · -10.6% · Below POC
AMZN 26/08 · 260.28 · -0.30% · Mixed (below 20, above 50, above 200) · RSI 50.9 Neutral · MACD Bear · -9.4% · Above POC
ORLY 25/08 · 90.32 · -0.40% · Mixed (below 20, above 50, below 200) · RSI 50.4 Neutral · MACD Bear · -16.9% · Above POC
TSLA 26/08 · 345.82 · -1.26% · Mixed (above 20, below 50, below 200) · RSI 49.8 Neutral · MACD Bull · -30.7% · Below POC
PANW 25/08 · 339.90 · -3.13% · Mixed (below 20, above 50, above 200) · RSI 44.0 Bearish · MACD Bear · -14.8% · Above POC

Distribution: 16 bullish · 14 bearish · 10 mixed. Almost exactly the split you would expect from an index sitting on its 50 EMA with nothing decided.



SECTOR GROUPING

Mega-cap Tech
AAPL +1.15% · MSFT +0.91% · META +1.07% · AMZN -0.30% · GOOGL -1.43% · NVDA -1.59% · TSLA -1.26% · NFLX -0.94%
Read: Split down the middle and rotating internally. AAPL and MSFT are the only two above all three EMAs and both closed above their volume point of control - money is hiding in the two most defensive mega-caps. GOOGL has broken below both its 20 and 50 EMA and is now below its POC at 352.16, which is a genuine change of character for a name that led the market for months. META is a wreck 27.1% below its 52-week high but reclaimed its 20 EMA today on 1.75x relative volume - the strongest volume signal in the mega-cap group and worth watching. TSLA is stuck between a reclaimed 20 EMA and a falling 50 EMA.

Semiconductors
MRVL +4.88% (25/08) · MU +2.48% (25/08) · QCOM +1.97% · LRCX +1.45% (25/08) · KLAC +0.97% (25/08) · ADI +0.67% (25/08) · TXN +0.66% · AMD +0.40% · AMAT -0.06% · AVGO -0.32%
Read: The clearest sector story on the board is the split between memory and equipment. MU and MRVL are the only two semis above all three EMAs, both with bullish MACD and both up hard. Meanwhile the capital-equipment names - AMAT (-35.1% from highs, RSI 40.9), KLAC (-40.4%, RSI 40.0), LRCX (-28.2%) - are all below their 20 and 50 EMAs and all trading below their volume point of control. AVGO is the weakest name in the entire index: below all three EMAs, RSI 34.4, MACD at -9.40 against a -3.41 signal, 28.2% off its high. Do not treat "semis" as one trade. Nvidia's after-hours beat and the AWS 2-million-GPU order will lift this group at the open - the question is whether the equipment names can hold any of it.

Software and Cloud
CDNS +5.06% (25/08) · SNPS +3.62% (25/08) · ADBE -0.16% · WDAY -2.38% (25/08) · CRWD -2.78% (25/08) · PANW -3.13% (25/08) · INTU -3.24% · FTNT +1.04% (25/08)
Read: The EDA pair CDNS and SNPS ripped on 25 Aug - CDNS +5.06% on 1.36x volume and SNPS +3.62% on 1.90x volume, the heaviest relative volume in the group. Both reclaimed their 20 EMAs. Security is the mirror image: CRWD -2.78% with RSI at 38.8 and below its 20 and 50 EMA, PANW -3.13% losing its 20 EMA, FTNT below its 20 EMA. INTU fell 3.24% on 2.91x relative volume - by a distance the highest volume reading in the entire 40-name universe. That is institutional activity, and it happened in a stock that is 50.9% below its 52-week high.

Consumer and Internet
MELI +2.52% (25/08) · DASH +1.94% (25/08) · PYPL +0.96% (25/08) · BKNG +0.20% (25/08) · ABNB +0.15% (25/08) · COST -0.41% · ORLY -0.40% (25/08) · MAR -0.67% (25/08)
Read: The strongest sector on a trend basis. Five of eight are above all three EMAs. Travel and delivery are running hot - ABNB is only 1.5% from its 52-week high with RSI 73.6, DASH has RSI 75.4. That strength is real but it is extended: three of the four overbought readings in the whole index sit in this group. MAR is the odd one out, below both its 20 and 50 EMA and below its POC.

Healthcare and Biotech
REGN +0.61% (25/08) · ISRG -0.38%
Read: Complete divergence. REGN is the single best-positioned chart in the index - above all three EMAs, RSI 74.4, MACD above signal, and just 1.6% from a 52-week high, trading a colossal 23% above its POC of 677.47. ISRG is the opposite: below all three EMAs, RSI 43.8, 38.7% off its high. One name to own, one to avoid.

Industrial and Other
CEG +1.82% (25/08) · LIN +0.64% · CSCO +1.13% · TMUS -1.10%
Read: CEG has reclaimed its 20 and 50 EMA and sits above its POC, though it remains 32.5% off its high and below the 200. LIN is caught mid-stack. CSCO and TMUS are both below their 20 and 50 EMAs and below their POC - no reason to be involved.



TOP SWING SETUPS

1. MRVL - Long (data 25 Aug)
Entry: 240.38 or better on any pullback toward 236.00 · Stop: 230.23 · T1: 256.85 · T2: 260.95 · R:R: 2.02 to T2
Confluence: Above all three EMAs (20 at 223.72, 50 at 219.51, 200 at 165.95) with a wide, clean stack. Fresh bullish MACD crossover - MACD 5.88 against a 2.00 signal. RSI 56.4 with plenty of room before overbought. Closed +4.88%, the second-strongest move in the index. ATR 18.19 so the 10.15-point stop is 0.56 ATR - tight but placed under classic S2 at 230.23.
POC context: Trading below its 60-day point of control at 260.95. That is the argument for the trade - there is an air pocket of 20.6 points between here and the volume shelf, and T2 is set exactly at it. Momentum names that reclaim their POC from below tend to keep going.
Caveat: MRVL is a semi and will gap on the Nvidia read. Size accordingly.

2. REGN - Long (data 25 Aug)
Entry: 841.19 on a break of R1 · Stop: 815.81 · T1: 857.69 · T2: 880.00 · R:R: 1.53 to T2
Confluence: The strongest chart in the index. Above all three EMAs (788.70 / 736.81 / 705.86) with a textbook expanding stack. MACD 37.73 above a 37.55 signal and rising. Only 1.6% from its 52-week high of 847.00, so a break of 841 puts it into blue sky within a session. ATR 19.41, so the 25.38-point stop is 1.31 ATR - appropriate for a breakout entry.
POC context: Trading 23% above its POC of 677.47. Extended, yes - but this is what leadership looks like, and there is no overhead supply above 847.
Risk: RSI 74.4 is overbought. This is a momentum-continuation trade, not a value trade. If it fails at 847 it can retrace fast.

3. ABNB - Long (data 25 Aug)
Entry: 191.56 on a break of R1 · Stop: 186.90 · T1: 193.89 · T2: 200.00 · R:R: 1.81 to T2
Confluence: Above all three EMAs (175.37 / 160.64 / 141.83) - one of the widest, cleanest stacks on the board. MACD 10.76 over a 9.91 signal. 1.5% from its 52-week high of 193.45. The 25 Aug session was a 2.33-point inside day on 0.83 relative volume - textbook coiling right under resistance. ATR 5.53 makes the 4.66-point stop 0.84 ATR.
POC context: 22% above POC at 155.63. Strongly trending, no volume resistance overhead.
Risk: RSI 73.6. Tight consolidations under 52-week highs either break or fail decisively - do not average down.

4. MELI - Long (data 25 Aug)
Entry: 1,997.00 · Stop: 1,929.00 · T1: 2,061.27 · T2: 2,111.33 · R:R: 1.68 to T2
Confluence: Above all three EMAs (1,876.23 / 1,824.56 / 1,874.33) and just reclaimed the 200 EMA with authority. The strongest MACD reading in the index - 33.92 against a 23.57 signal, a 10.35-point spread. RSI 65.0, bullish without being overbought. Closed +2.52%. ATR 68.65, so the 68-point stop is exactly 1 ATR, placed under the 25 Aug low of 1,929.
POC context: 12.8% above POC at 1,769.78. T1 at R2 and T2 at R3.
Note: Wide ATR - this is a small-size, wide-stop trade. Do not use standard sizing.

5. AVGO - Short
Entry: 350.06 on a break of the 26 Aug low · Stop: 364.45 · T1: 341.20 · T2: 330.00 · R:R: 1.40 to T2
Confluence: The weakest structure in the index. Below all three EMAs - 20 at 382.12, 50 at 388.37, 200 at 365.63 - and note the 20 is below the 50, a confirmed bearish stack. RSI 34.4, the lowest reading in the 40. MACD -9.40 against a -3.41 signal, the widest negative spread on the board. 28.2% below its 52-week high. Relative volume 0.92 on the decline. ATR 14.02, so the 14.39-point stop is 1.03 ATR.
POC context: Trading well below its POC of 393.33 - 9.6% of clear air overhead means every rally meets supply.
Critical caveat: AVGO is an AI semiconductor name and Nvidia just guided to $108bn. This short is structurally correct but tactically dangerous into Thursday's open. Wait for the gap to be priced and only engage if AVGO fails to reclaim 365.63 (the 200 EMA) on the bounce. If it gaps above the 200 EMA and holds, stand aside entirely.



INTRADAY SETUPS FOR THURSDAY 27 AUGUST

WARNING: All Camarilla and pivot levels below are computed from Wednesday's cash range. A gap open on the Nvidia result invalidates them. Semiconductor and mega-cap levels are the most exposed. Let the first thirty minutes establish a range before deploying any of these.

1. AAPL - Pivot bounce long
Direction: Long · Entry: 312.00 - 312.56 · Stop: 309.20 · T1: 314.67 · T2: 316.32 · R:R: 1.54 to T2
Reasoning: Classic pivot 312.56 sits almost exactly on Camarilla S3 at 311.63 and the 20 EMA at 311.86 - triple confluence in a 0.93-point band. AAPL closed +1.15% above all three EMAs and above its POC of 306.89. Stop goes below Camarilla S4 at 309.80 and the 50 EMA at 309.59. T1 at Camarilla R2, T2 at classic R1. Relative volume was only 0.62 so there is fuel available.

2. AMZN - Camarilla range long
Direction: Long · Entry: 259.23 at Camarilla S3 · Stop: 258.18 · T1: 260.98 · T2: 261.33 · R:R: 2.00 to T2
Reasoning: The purest Camarilla mean-reversion setup on the board. AMZN's 26 Aug range was just 3.81 points on 0.45 relative volume - the quietest session of any component. Compressed ranges on low volume are exactly the condition Camarilla S3/R3 reversion is designed for. Price is above the 50 and 200 EMA and above POC at 248.46, so the underlying bias supports buying weakness. Stop is Camarilla S4 at 258.18. If S4 breaks, the setup flips to a breakdown short targeting S2 at 256.38.

3. MSFT - Camarilla range long
Direction: Long · Entry: 493.40 at Camarilla S3 · Stop: 490.62 · T1: 497.09 · T2: 498.94 · R:R: 1.99 to T2
Reasoning: Camarilla S3 at 493.40 sits on the classic pivot at 493.63 - a 0.23-point confluence. MSFT is above all three EMAs with the 20 at 475.70, a full 20 points below, so there is deep trend support beneath. RSI 67.4 bullish. Stop at Camarilla S4 490.62. T2 at Camarilla R3 498.94, which is just under classic R1 at 499.94 - take profit before the round-number battle at 500.

4. GOOGL - Camarilla breakdown short
Direction: Short · Entry: 338.32 on a break of Camarilla S4 · Stop: 341.39 · T1: 336.32 · T2: 332.46 · R:R: 1.91 to T2
Reasoning: Camarilla S4 breakdowns are trend-continuation trades and GOOGL has the trend to support it - closed -1.43%, below both the 20 EMA (347.09) and 50 EMA (350.44), and below its POC at 352.16. That POC is 10.16 points overhead, so rallies have supply to fight. MACD -2.04 under a -1.82 signal. Stop at Camarilla S1 341.39. T1 at classic S2, T2 at classic S3. ATR 8.83 so T2 is a realistic single-session move.

5. TXN - Camarilla range long
Direction: Long · Entry: 260.75 at Camarilla S3 · Stop: 259.73 · T1: 262.45 · T2: 262.79 · R:R: 2.00 to T2
Reasoning: A pure fade, not a trend trade - be clear about that. TXN is below its 20 and 50 EMA with RSI at 38.8, so this is a counter-trend scalp into a very tight 3.71-point range on 0.61 relative volume. Camarilla S3 to R3 in a compressed, low-volume range is the highest-probability reversion configuration. Stop is one point below at Camarilla S4 259.73. Take T1 and reduce - do not hold a counter-trend long overnight.

NVDA - setup withdrawn
NVDA's Camarilla band (S4 207.26 to R4 212.06) is a 4.80-point range around a 209.66 close. It will be blown apart by the earnings gap and is published here only as a record. Do not trade NVDA off Wednesday's levels. Rebuild from Thursday's opening range.



KEY LEVELS DASHBOARD - TOP 5 BY WEIGHT

NVDA - 209.66 (26 Aug) - LEVELS VOID ON EARNINGS GAP
Cam: S4 207.26 · S3 208.46 · S1 209.26 || R1 210.06 · R3 210.86 · R4 212.06
Classic: S3 203.69 · S2 206.46 · S1 208.06 · P 210.83 · R1 212.43 · R2 215.20 · R3 216.80
EMAs: 20 at 214.15 · 50 at 210.53 · 200 at 195.80 | POC 207.57
Prev day H/L: 213.60 / 209.23 | 52w H/L: 236.54 / 164.07 | ATR 6.26

MSFT - 496.17 (26 Aug)
Cam: S4 490.62 · S3 493.40 · S1 495.25 || R1 497.09 · R3 498.94 · R4 501.72
Classic: S3 479.76 · S2 483.54 · S1 489.85 · P 493.63 · R1 499.94 · R2 503.72 · R3 510.03
EMAs: 20 at 475.70 · 50 at 446.34 · 200 at 433.71 | POC 415.23
Prev day H/L: 497.40 / 487.31 | 52w H/L: 553.72 / 349.20 | ATR 11.67

AAPL - 313.45 (26 Aug)
Cam: S4 309.80 · S3 311.63 · S1 312.84 || R1 314.06 · R3 315.27 · R4 317.10
Classic: S3 303.06 · S2 305.93 · S1 309.69 · P 312.56 · R1 316.32 · R2 319.19 · R3 322.95
EMAs: 20 at 311.86 · 50 at 309.59 · 200 at 284.01 | POC 306.89
Prev day H/L: 315.43 / 308.80 | 52w H/L: 344.57 / 224.69 | ATR 7.19

AMZN - 260.28 (26 Aug)
Cam: S4 258.18 · S3 259.23 · S1 259.93 || R1 260.63 · R3 261.33 · R4 262.38
Classic: S3 254.52 · S2 256.38 · S1 258.33 · P 260.19 · R1 262.14 · R2 264.00 · R3 265.95
EMAs: 20 at 260.85 · 50 at 255.54 · 200 at 241.04 | POC 248.46
Prev day H/L: 262.05 / 258.24 | 52w H/L: 287.20 / 196.00 | ATR 6.82

META - 576.14 (26 Aug)
Cam: S4 558.84 · S3 567.49 · S1 573.26 || R1 579.02 · R3 584.79 · R4 593.44
Classic: S3 529.44 · S2 545.66 · S1 560.90 · P 577.12 · R1 592.36 · R2 608.58 · R3 623.82
EMAs: 20 at 575.17 · 50 at 589.69 · 200 at 620.36 | POC 593.16
Prev day H/L: 593.34 / 561.88 | 52w H/L: 790.80 / 520.26 | ATR 20.18
Note: META's 31.46-point range on 1.75x relative volume was the widest and heaviest mega-cap session of the day. It closed 0.97 above its 20 EMA after trading 13.29 below it. That is a genuine reclaim attempt - but the 50 EMA at 589.69 and the POC at 593.16 are stacked overhead and will not give way easily.



BEARISH WARNINGS

1. Index momentum is deteriorating beneath a bullish stack. MACD histogram at -49.67 and widening, price below the 20 EMA, and five consecutive lower highs since 30,762. The daily EMA stack is still bullish, but momentum leads price. If MACD crosses below zero the corrective read becomes a trend-change read.

2. Distribution is running under a flat tape. Visible-range volume profile: 823.59m down-volume against 560.05m up-volume. Three straight sessions below the 1.32bn average. Sellers are working quietly.

3. AMD is on the verge of an EMA 20/50 death cross. The 20 EMA is at 484.08 and the 50 EMA at 484.07 - a one-cent gap. This crosses tomorrow on any weakness. AMD is already below both, MACD is negative at -7.68 under a -7.59 signal, and it trades below its POC at 507.82.

4. COST has a fully bearish EMA stack while price is still above it. 20 EMA 953.06, below the 50 at 955.63, below the 200 at 962.61. Price at 956.12 is above the 20 and 50 but below the 200 by 6.49. This is a distribution structure - the moving averages have already rolled over and price is the last thing to go.

5. Four names in the bearish RSI zone. AVGO 34.4, TXN 38.8, CRWD 38.8, KLAC 40.0. Three of the four are semiconductors and all four are below both their 20 and 50 EMAs and below their POC.

6. Four overbought names carrying the upside. DASH 75.4, REGN 74.4, ABNB 73.6, PYPL 71.2. The leadership is concentrated in a handful of extended charts - and PYPL is overbought with a bearish MACD, which is the classic exhaustion pairing. Narrow leadership is fragile leadership.

7. NFLX is 35.7% below its 52-week high and below its 200 EMA. It has reclaimed the 20 and 50, but at 81.46 against a 200 EMA of 87.19 this remains a bear-market bounce until proven otherwise.

8. INTU: 2.91x relative volume on a 3.24% decline. The highest volume reading in the entire universe, in a stock 50.9% below its 52-week high. High-volume down days in broken charts are rarely accumulation.

9. Three names below all three EMAs. AVGO, ISRG and TMUS have no moving-average support beneath them at all. ISRG is 38.7% off its high and AVGO 28.2%.



EVENTS CALENDAR

Reported after the close on Wednesday 26 August
NVIDIA (NVDA) - Q2 FY2027. Revenue $96.2bn vs $92.4bn expected, +106% year on year. Adjusted EPS $2.22. Data centre $89bn vs $86.33bn expected, +117%. Gross margin 75%. Q3 guidance $108bn plus or minus 2% against $104.2bn consensus. AWS to purchase 2 million Nvidia GPUs and deploy the new Vera CPU. A comprehensive beat and raise.
CrowdStrike (CRWD) - Q2. Beat. Stock indicated higher after hours. Note CRWD closed the regular session -2.78% at 185.38 with RSI 38.8 - the earnings reaction has to fight a broken short-term chart.
Salesforce (CRM) - Q2 beat (S&P 500, not a NAS100 constituent, but a direct read-across for enterprise software: ADBE, WDAY, INTU, PANW).
Okta - Q2 beat. Read-across to the security complex: CRWD, PANW, FTNT.

Economic data - Thursday 27 August
PCE Price Index - 08:30 ET / 13:30 UK. The Federal Reserve's preferred inflation gauge. The single most important macro release of the week.
Initial Jobless Claims - 08:30 ET / 13:30 UK.
Q2 GDP, second estimate - 08:30 ET / 13:30 UK.

Trading implication: Thursday stacks a mega-cap earnings gap at the open against a PCE print at 13:30 UK. That is two independent shocks in the first four hours of the session. Position sizing matters more than level selection tomorrow. The index is sitting on triple confluence support at 29,115-29,134 with resistance at the 20 EMA at 29,327 - a 200-point box. Whichever side breaks on volume is likely to run, because the descending wedge has been compressing for six weeks and there is very little structure between 29,406 and 29,677 above, or between 29,006 and 28,876 below.



Report: 26 August 2026 22:00 GMT · Component data: 20 names 26 Aug, 20 names 25 Aug as tagged · Not financial advice. Always DYOR. Capital at risk.

NASDAQ 100 - DAILY TECHNICAL ANALYSIS - TUESDAY 25 AUGUST 2026
Data: Close 25 Aug 2026 | NAS100: 29,209.23 | Change: +186.05 (+0.64%) | Range: 29,077.72 - 29,338.77



MARKET OVERVIEW
The NASDAQ 100 closed at 29,209.23, up +186.05 points (+0.64%), recovering roughly two thirds of Monday's decline. The session traded a 261-point range between 29,077.72 and 29,338.77 on 993m shares - the lightest volume of the last six sessions and around 24% below the 300-day average of 1.31bn. That is a bounce on thin participation, not accumulation.
Semiconductors did the heavy lifting ahead of Nvidia's results tomorrow: AMD +4.91%, MRVL +4.88%, MU +2.48% and NVDA +2.19%. Falling Treasury yields and a softer oil price helped risk appetite, while enterprise software lagged badly - INTU -3.37%, PANW -3.13%, CRWD -2.78% and WDAY -2.38%.
Breadth was constructive with 24 of the 40 components higher, but only 20 of 40 are trading above their 60-day volume point of control - the market is split down the middle.
Bias: cautiously neutral. The index remains above the 50 and 200 EMA but is capped by a falling 20 EMA, and MACD is still below signal. Direction from here is an event call, not a chart call - Nvidia earnings and July PCE both land tomorrow.



TREND STRUCTURE
EMA stack (daily): EMA20 29,352.84 | EMA50 29,130.50 | EMA200 27,138.09
Close 29,209.23 is below the 20 EMA, above the 50 EMA and well above the 200 EMA - a Mixed structure by strict classification. The 20 EMA sits above the 50 EMA, so the medium-term uptrend is intact; the near-term impulse is not.
Structure: the index has carved a lower high sequence since the 30,762 peak - 29,677 then 29,405 then 29,338. Higher lows are still in place off 28,876, so this is a contracting range between roughly 28,876 and 29,677 rather than a confirmed downtrend.
Phase: late-stage consolidation inside a primary uptrend (price +34.1% over the last 300 sessions). The 50 EMA at 29,130 is the line that defines it - hold it and the range persists, lose it and the 28,876 low comes into play quickly.



INDICATORS
RSI(14): 48.93 - dead centre. No divergence of note: the marginally lower price low on Monday was matched by a lower RSI low, so momentum is confirming price rather than warning about it. Neither side owns this tape.
MACD: 69.97 vs signal 116.16, histogram -46.18 - bearish. MACD crossed below signal and the histogram is still widening to the downside. Both lines remain above zero, so this reads as momentum cooling within an uptrend, not a trend reversal. A histogram that starts contracting on a green day would be the first real repair signal.
Volume: 993m against a 1.31bn average. Volume has now declined on four consecutive sessions while price chopped - classic pre-event compression. Visible-range volume profile is 3.57bn up versus 3.26bn down, a mild buyer edge.



KEY INDEX LEVELS
Resistance
R1 29,339 - today's high and classic R1, the immediate ceiling
R2 29,353 / 29,470 - the 20 EMA at 29,352.84 stacked with classic R2 at 29,469.63. This is the pivotal zone: reclaiming it flips the near-term structure bullish
R3 29,600 / 29,677 - classic R3 at 29,600.48 and the 19 Aug swing high at 29,677.29
Support
S1 29,130 / 29,078 - the 50 EMA at 29,130.50 with classic S1 at 29,078.37 and today's low at 29,077.72. Triple confluence; the most important level on the chart
S2 28,948 / 28,876 - classic S2 at 28,947.52 and Monday's low at 28,875.96, just under the 29,000 round number
S3 28,817 - classic S3 at 28,817.32; below here the 200 EMA at 27,138 is the next structural floor, a long way down
Classic pivots (from today): S2 28,947.52 . S1 29,078.37 . P 29,208.57 . R1 29,339.43 . R2 29,469.63
Round numbers in play: 29,000 . 29,500 . 30,000



COMPONENT SIGNALS - ALL 40
Format: Ticker . Close . Day % . Trend (strict EMA) . RSI zone . MACD . % from 52w high . POC
AAPL 309.90 . -0.14% . Mixed (<20 >50 >200) . RSI 47.8 Neutral . MACD Bear . -10.1% from 52w high . Above POC
MSFT 491.71 . +0.90% . Bull (above all) . RSI 65.7 Bullish . MACD Bear . -11.2% from 52w high . Above POC
NVDA 213.05 . +2.19% . Mixed (<20 >50 >200) . RSI 49.6 Neutral . MACD Bear . -9.9% from 52w high . Above POC
AMZN 261.06 . -0.39% . Bull (above all) . RSI 51.6 Neutral . MACD Bear . -9.1% from 52w high . Above POC
META 570.05 . +1.97% . Bear (below all) . RSI 46.4 Neutral . MACD Bear . -27.9% from 52w high . Below POC
GOOGL 346.96 . -0.32% . Bear (below 20/50) . RSI 48.7 Neutral . MACD Bear . -15.1% from 52w high . Below POC
TSLA 350.25 . +0.35% . Mixed (>20 <50 <200) . RSI 51.9 Neutral . MACD Bull . -29.8% from 52w high . Below POC
AVGO 356.74 . -0.56% . Bear (below all) . RSI 34.7 Bearish . MACD Bear . -27.9% from 52w high . Below POC
AMD 479.18 . +4.91% . Bear (below 20/50) . RSI 48.0 Neutral . MACD Bear . -18.1% from 52w high . Below POC
QCOM 160.56 . +1.28% . Bear (below all) . RSI 44.1 Bearish . MACD Bull . -38.2% from 52w high . Below POC
TXN 260.05 . +0.43% . Bear (below 20/50) . RSI 37.2 Bearish . MACD Bear . -22.1% from 52w high . Below POC
AMAT 480.04 . -0.86% . Bear (below 20/50) . RSI 41.0 Bearish . MACD Bear . -35.1% from 52w high . Below POC
MU 932.97 . +2.48% . Bull (above all) . RSI 50.8 Neutral . MACD Bull . -25.7% from 52w high . Below POC
LRCX 314.66 . +1.45% . Bear (below 20/50) . RSI 48.8 Neutral . MACD Bull . -28.2% from 52w high . Below POC
KLAC 183.34 . +0.97% . Bear (below 20/50) . RSI 40.0 Bearish . MACD Bear . -40.4% from 52w high . Below POC
ADI 373.66 . +0.67% . Bear (below 20/50) . RSI 46.1 Neutral . MACD Bear . -16.2% from 52w high . Below POC
MRVL 240.38 . +4.88% . Bull (above all) . RSI 56.4 Bullish . MACD Bull . -27.1% from 52w high . Below POC
ADBE 273.92 . -0.85% . Bull (above all) . RSI 61.1 Bullish . MACD Bull . -26.1% from 52w high . Above POC
INTU 357.46 . -3.37% . Bull (above 20/50) . RSI 61.3 Bullish . MACD Bull . -49.3% from 52w high . Above POC
PANW 339.90 . -3.13% . Mixed (<20 >50 >200) . RSI 44.0 Bearish . MACD Bear . -14.8% from 52w high . Above POC
SNPS 408.79 . +3.62% . Mixed (>20 <50 <200) . RSI 51.1 Neutral . MACD Bull . -33.6% from 52w high . Below POC
CDNS 331.90 . +5.06% . Mixed (>20 <50 <200) . RSI 49.4 Neutral . MACD Bull . -20.3% from 52w high . Below POC
CRWD 185.38 . -2.78% . Bear (below 20/50) . RSI 38.8 Bearish . MACD Bear . -18.5% from 52w high . Below POC
FTNT 153.61 . +1.04% . Mixed (<20 >50 >200) . RSI 46.3 Neutral . MACD Bear . -10.7% from 52w high . Above POC
WDAY 194.42 . -2.38% . Bull (above all) . RSI 62.2 Bullish . MACD Bear . -22.2% from 52w high . Above POC
CSCO 111.11 . +0.80% . Bear (below 20/50) . RSI 43.1 Bearish . MACD Bear . -14.8% from 52w high . Below POC
COST 960.01 . -1.17% . Bull (above 20/50) . RSI 53.0 Neutral . MACD Bull . -12.4% from 52w high . Above POC
NFLX 82.23 . +2.77% . Bull (above 20/50) . RSI 67.3 Bullish . MACD Bull . -35.1% from 52w high . Above POC
BKNG 213.78 . +0.20% . Bull (above all) . RSI 64.3 Bullish . MACD Bear . -7.4% from 52w high . Above POC
MELI 1,997.00 . +2.52% . Bull (above all) . RSI 65.0 Bullish . MACD Bull . -21.6% from 52w high . Above POC
MAR 357.77 . -0.67% . Bear (below 20/50) . RSI 46.6 Neutral . MACD Bull . -12.9% from 52w high . Below POC
ABNB 190.50 . +0.15% . Bull (above all) . RSI 73.6 Overbought . MACD Bull . -1.5% from 52w high . Above POC
DASH 233.50 . +1.94% . Bull (above all) . RSI 75.4 Overbought . MACD Bull . -18.2% from 52w high . Above POC
PYPL 62.27 . +0.96% . Bull (above all) . RSI 71.2 Overbought . MACD Bear . -21.4% from 52w high . Above POC
ORLY 90.32 . -0.40% . Mixed (<20 >50 <200) . RSI 50.4 Neutral . MACD Bear . -16.9% from 52w high . Above POC
TMUS 181.61 . -0.55% . Mixed (>20 <50 <200) . RSI 50.7 Neutral . MACD Bull . -29.8% from 52w high . Above POC
ISRG 371.84 . -0.46% . Bear (below all) . RSI 44.5 Bearish . MACD Bear . -38.4% from 52w high . Below POC
REGN 833.56 . +0.61% . Bull (above all) . RSI 74.4 Overbought . MACD Bull . -1.6% from 52w high . Above POC
LIN 487.20 . -0.58% . Bear (below all) . RSI 45.6 Neutral . MACD Bull . -11.1% from 52w high . Below POC
CEG 278.42 . +1.82% . Bull (above 20/50) . RSI 57.4 Bullish . MACD Bear . -32.5% from 52w high . Above POC



SECTOR GROUPING
Mega-cap Tech (7) - 2 bullish . 2 bearish . 3 mixed
Split. MSFT and AMZN are the only two above all three EMAs; META is below all three and 27.9% off its high with the 20 EMA under the 50 - the weakest mega-cap by a distance. AAPL and NVDA share the index's own profile: under the 20, over the 50 and 200.
Semiconductors (11) - 2 bullish . 8 bearish . 1 mixed
The day's leaders and the group's biggest problem at once. Nine of eleven chip names finished green, yet only MU, MRVL and NVDA are structurally healthy - AVGO, QCOM, TXN, AMAT, LRCX, KLAC and ADI all have the 20 EMA below the 50. This was an oversold bounce into an event, not a trend change.
Software / Cloud (10) - 4 bullish . 2 bearish . 4 mixed
The weak link today. Security got hit hard - PANW -3.13% and CRWD -2.78% with CRWD reporting tomorrow. ADBE and WDAY remain above all three EMAs and INTU held its 20/50 despite a 3.37% drop on 1.34x relative volume.
Consumer / Internet (10) - 7 bullish . 1 bearish . 2 mixed
Quietly the strongest group on the board. BKNG, MELI, ABNB, DASH and PYPL are all above every EMA, with ABNB just 1.5% from a 52-week high and DASH, ABNB and PYPL all overbought on RSI. Only MAR is structurally broken.
Healthcare / Biotech (2) - 1 bullish . 1 bearish . 0 mixed
Two-name split. REGN is 1.6% from a 52-week high with RSI 74.4 and a strong MACD; ISRG is below all three EMAs and 38.4% off its high.
Industrial / Other (2) - 1 bullish . 1 bearish . 0 mixed
LIN is below all three EMAs with the 20 under the 50. CEG rallied 1.82% and holds its 20/50 but is still 32.5% below its high and under the 200 EMA.



TOP SWING SETUPS
1. MRVL - LONG (continuation)
Entry: 241.00 . Stop: 234.50 . T1: 251.77 . T2: 260.95 . R:R: 1.66 to T1, 3.07 to T2
Above all three EMAs, +4.88% on the day, MACD 5.88 above signal 2.00, RSI 56.4 with room to run. Stop sits under classic S1 at 235.31 and is 0.36x ATR(18.19) - tight, so size accordingly. POC context: the 60-day POC at 260.95 is overhead and doubles as the T2 objective. Earnings Thursday 27 Aug - this is a pre-event trade and should be reduced or closed into it.
2. ABNB - LONG (52-week high breakout)
Entry: 193.60 on a break of the 193.45 52-week high . Stop: 189.20 . T1: 200.00 . T2: 205.00 . R:R: 1.45 to T1, 2.59 to T2
The cleanest structure on the board: above all three EMAs, only 1.5% from its 52-week high, MACD 10.76 over signal 9.91, and today's range was just 2.33 points against an ATR of 5.53 - textbook volatility contraction under resistance. Stop is Camarilla S4. POC context: price is 22% clear of the 155.63 POC with no volume overhead. Caveat: RSI 73.6 is overbought, so only take the breakout, never the anticipation.
3. MU - LONG (pullback in uptrend)
Entry: 925.00 . Stop: 899.00 . T1: 962.35 . T2: 1,000.00 . R:R: 1.44 to T1, 2.88 to T2
Above all three EMAs with the 200 EMA at 644.64 far below, +2.48% today, MACD 7.91 crossed over signal 2.59. Stop is below classic S1 at 917.29 and inside 0.4x ATR(65.39) - a wide-ranging name, so keep position size small. POC context: price is under the 972.47 POC, which is the volume shelf T1 must clear. High beta to the Nvidia print.
4. AVGO - SHORT (rally into resistance)
Entry: 361.00 . Stop: 370.00 . T1: 350.67 . T2: 346.02 . R:R: 1.15 to T1, 1.66 to T2
Below all three EMAs with the 20 EMA (384.91) under the 50 (389.71), RSI 34.7 - the only oversold name in the index but oversold in a downtrend is not a buy signal. MACD -8.15 under signal -1.91 and it was the only red semiconductor on a day when the group rallied 2%+. That relative weakness is the tell. Entry is a fade of classic R1 at 361.38. POC context: price is 9.7% below the 394.99 POC - all of that volume is trapped supply above.
5. CRWD - SHORT (breakdown)
Entry: 182.00 on a break of today's 182.35 low . Stop: 190.00 . T1: 175.26 . T2: 168.17 . R:R: 0.84 to T1, 1.73 to T2
Below the 20 and 50 EMA, -2.78% on 1.06x relative volume while the index rose, RSI 38.4 and MACD 0.23 rolling under signal 4.48. Targets are classic S2 and S3. POC context: just under the 187.54 POC, so sellers have the volume shelf. Warning: earnings tomorrow after the close - this setup is only valid as a same-session trade before the print, or must be stood down entirely.



INTRADAY SETUPS
1. MSFT - Pivot bounce long
Entry: 489.48 (classic pivot) . Stop: 486.40 . T1: 494.67 . T2: 497.62 . R:R: 1.69 to T1, 2.64 to T2
Closed at 491.71, above all three EMAs and up 0.90%. Buying the first touch of the pivot with the stop under classic S1 at 486.53 is the highest-probability index-weighted long on the board. Invalid if the index opens below 29,078.
2. AAPL - Pivot bounce long
Entry: 307.54 (classic S1) . Stop: 305.10 . T1: 310.57 . T2: 312.92 . R:R: 1.24 to T1, 2.20 to T2
Closed 309.90, fractionally under the 310.57 pivot with the 20 EMA at 311.69 acting as the cap. S1 at 307.54 sits above the POC at 306.85 - buy the confluence, stop under classic S2 at 305.19. Relative volume was only 0.49, so expect a slow grind rather than a thrust.
3. AMD - Camarilla breakout long
Entry: 482.70 on a break of Camarilla R3 (482.60) . Stop: 476.80 . T1: 489.01 . T2: 496.53 . R:R: 1.07 to T1, 2.34 to T2
Camarilla R3 breakouts are the correct play in a name that closed +4.91% near the top of its range. Stop is Camarilla S2 at 476.90. Note the structure is still bearish - below the 20 EMA at 484.39 and the 50 at 484.19 - so this is a momentum trade only, and reclaiming 484.39 is what turns it into something more.
4. CDNS - Camarilla breakout long
Entry: 336.50 on a break of Camarilla R3 (336.34) . Stop: 331.40 . T1: 340.79 . T2: 343.63 . R:R: 0.84 to T1, 1.40 to T2
Best percentage gain in the index at +5.06% on 1.36x relative volume, and it reclaimed the 20 EMA at 328.57 in the process. The 50 EMA at 341.18 sits right between T1 and T2 - take partial profit into it. Below the 360.86 POC, so the overhead supply is real.
5. META - Camarilla reversion short
Entry: 569.00 on a loss of Camarilla S1 (569.19) . Stop: 573.50 . T1: 564.03 . T2: 558.02 . R:R: 1.10 to T1, 2.44 to T2
The weakest mega-cap: below all three EMAs, 20 EMA under the 50, MACD -12.47 against signal -11.02 and 27.9% off its 52-week high. Today's 1.97% gain took it back into the 575.06 20 EMA and stalled. Fading the Camarilla S1 loss targets classic S1 and S2. Invalid above 575.



KEY LEVELS DASHBOARD
NVDA - 213.05 (+2.19%)
Camarilla: S4 210.51 . S3 211.78 . S2 212.20 . S1 212.63 || R1 213.47 . R2 213.90 . R3 214.32 . R4 215.59
Classic: S3 205.91 . S2 208.01 . S1 210.53 . P 212.63 . R1 215.15 . R2 217.25 . R3 219.77
EMAs: 20 214.62 . 50 210.56 . 200 195.66 . POC: 207.89
Prev session H/L: 214.73 / 210.11 . 52w H/L: 236.54 / 164.07 . ATR14: 6.40 . Rel vol: 1.01
AAPL - 309.90 (-0.14%)
Camarilla: S4 306.94 . S3 308.42 . S2 308.91 . S1 309.41 || R1 310.39 . R2 310.89 . R3 311.38 . R4 312.86
Classic: S3 302.16 . S2 305.19 . S1 307.54 . P 310.57 . R1 312.92 . R2 315.95 . R3 318.30
EMAs: 20 311.69 . 50 309.44 . 200 283.71 . POC: 306.85
Prev session H/L: 313.59 / 308.21 . 52w H/L: 344.57 / 224.69 . ATR14: 7.23 . Rel vol: 0.49
MSFT - 491.71 (+0.90%)
Camarilla: S4 487.23 . S3 489.47 . S2 490.22 . S1 490.96 || R1 492.46 . R2 493.20 . R3 493.95 . R4 496.19
Classic: S3 478.39 . S2 481.34 . S1 486.53 . P 489.48 . R1 494.67 . R2 497.62 . R3 502.81
EMAs: 20 473.54 . 50 444.30 . 200 433.09 . POC: 415.66
Prev session H/L: 492.44 / 484.30 . 52w H/L: 553.72 / 349.20 . ATR14: 11.79 . Rel vol: 0.53
META - 570.05 (+1.97%)
Camarilla: S4 564.88 . S3 567.47 . S2 568.33 . S1 569.19 || R1 570.91 . R2 571.77 . R3 572.64 . R4 575.22
Classic: S3 554.63 . S2 558.02 . S1 564.03 . P 567.42 . R1 573.43 . R2 576.82 . R3 582.83
EMAs: 20 575.06 . 50 590.24 . 200 620.80 . POC: 594.11
Prev session H/L: 570.80 / 561.40 . 52w H/L: 790.80 / 520.26 . ATR14: 19.31 . Rel vol: 0.56
AMD - 479.18 (+4.91%)
Camarilla: S4 472.34 . S3 475.76 . S2 476.90 . S1 478.04 || R1 480.32 . R2 481.46 . R3 482.60 . R4 486.02
Classic: S3 459.24 . S2 464.15 . S1 471.67 . P 476.58 . R1 484.10 . R2 489.01 . R3 496.53
EMAs: 20 484.39 . 50 484.19 . 200 366.13 . POC: 507.96
Prev session H/L: 481.50 / 469.07 . 52w H/L: 584.73 / 149.22 . ATR14: 27.73 . Rel vol: 0.75



BEARISH WARNINGS
1. Death-cross structure is now the majority. 17 of the 40 components have their 20 EMA below their 50 EMA: META, GOOGL, AVGO, TSLA, COST, QCOM, TMUS, LIN, ISRG, TXN, AMAT, LRCX, KLAC, ADI, SNPS, CDNS and MAR. Seven of those are semiconductors - the group that led today's rally. The index EMA stack is still correctly ordered, but the components underneath it are not.
2. Semiconductor rally is structurally hollow. AVGO, QCOM, TXN, AMAT, LRCX, KLAC and ADI all closed green today yet remain below both their 20 and 50 EMAs and below their volume point of control. A rally that cannot reclaim the 20 EMA on the day the group leads is a bounce, not a base.
3. MACD histogram still expanding lower on the index. MACD 69.97 versus signal 116.16 with the histogram at -46.18. Price rose today, the histogram did not repair. That divergence between price and momentum resolves one way or the other on the Nvidia print.
4. Overbought names carrying event risk. DASH (RSI 75.4), REGN (74.4), ABNB (73.6) and PYPL (71.2) are all extended. These are the crowded longs and the first place profit-taking shows up if Wednesday disappoints.
5. Deep drawdowns persist beneath a near-record index. INTU is 49.3% below its 52-week high, KLAC 40.4%, ISRG 38.4%, QCOM 38.2%, AMAT 35.1% and NFLX 35.1%. Twenty of forty components trade below their 60-day POC. Index strength is being carried by a narrow group.
6. Volume contraction. Four straight sessions of declining volume into the two largest scheduled events of the quarter. Thin tape, wide gaps - manage overnight risk accordingly.



EVENTS CALENDAR
Wednesday 26 August
NVDA - Q2 results after the close. The single largest binary event for this index. NVDA closed +2.19% at 213.05, snapping a seven-day losing run, and sits below its 20 EMA (214.62) but above its 50 (210.56) and 200 (195.66). Implied move will be wide - reduce semiconductor exposure into it.
CRWD - Q2 results after the close. Consensus around 0.29 per share on 1.44bn revenue. Closed -2.78% at 185.38, the weakest software name on the day.
July PCE price index - the Fed's preferred inflation gauge, pre-market. A hot print pressures the rate-cut path that has underwritten this year's advance.
Thursday 27 August
MRVL - Q2 results after the close. Consensus around 0.93 per share on 2.71bn revenue. Closed +4.88% at 240.38 - positioning is already long into this one.
DELL - results, a useful read-through on AI server demand for the whole semiconductor complex.
Weekly jobless claims and the second estimate of Q2 GDP.
Friday 28 August
Fed Chair Kevin Warsh speaks at Jackson Hole. His first symposium as Chair. Any signal on the rate path lands into a thin, pre-weekend tape.



SUMMARY
A 0.64% bounce on the lightest volume in six sessions, led by chip names that mostly remain below their 20 and 50 EMAs. The index holds its 50 EMA at 29,130 and its 200 EMA at 27,138, but is capped by a falling 20 EMA at 29,353 with MACD still below signal. 29,078 to 29,130 is the level that matters on the downside; 29,353 to 29,470 is what the bulls need to reclaim. With Nvidia earnings and July PCE both landing tomorrow and Jackson Hole on Friday, position size is the decision that matters more than direction this week.

Report: 25 August 2026 22:00 GMT . Not financial advice. Always DYOR. Capital at risk.

NASDAQ 100 - DAILY TECHNICAL REPORT - MONDAY 24 AUGUST 2026
Data: Close 24 Aug 2026 | NAS100: 29,023.18 | Change: -285.68 (-0.97%) | Range: 28,875.96 - 29,151.97


MARKET OVERVIEW
The NAS100 closed at 29,023.18, down -285.68 points (-0.97%), opening at 29,094.72 and trading a 276-point range between 28,875.96 and 29,151.97. The close came in the lower third of the day's range and beneath the open - a weak finish rather than a panic one.

Volume was 1.13bn shares against a 70-session average of 1.41bn, roughly 80% of normal. This was a low-conviction drift lower, not distribution.

What drove it: the entire semiconductor complex was sold. All eleven NAS100 chip names closed red - MU -5.83%, AMD -3.49%, MRVL -3.30%, NVDA -2.92% and AVGO -2.63% the worst of them. Memory names were hit after another Chinese memory-chip producer filed for a Shanghai listing, and NVDA extended its losing run into a seventh straight session as positioning was cut ahead of Wednesday's results.

Underneath that, money clearly rotated rather than left. Nine of the ten Consumer / Internet names closed higher - COST +2.50%, DASH +2.49%, BKNG +1.78%, ORLY +1.76% and ABNB +1.55%. Breadth across the 40 was a dead heat: 18 up, 22 down.

VIX closed at 15.13 - no fear priced in whatsoever, which is itself worth noting into an event-heavy week.

Bias: cautious / neutral-to-bearish below 29,127. The index is under both its 20 and 50 EMA with a fresh MACD sell signal, but sitting on the daily pivot with a long-term uptrend intact. This is a market waiting for Wednesday.


TREND STRUCTURE
EMA stack (daily): EMA20 29,127.29 | EMA50 29,388.75 | EMA200 27,117.27

Close 29,023.18 sits below the EMA20 (-0.36%) and below the EMA50 (-1.24%) but well above the EMA200 (+7.03%). Under the strict classification that is BEAR (below 20/50) - a short-term downtrend inside an intact long-term uptrend.

The EMA20 has crossed beneath the EMA50, which is the defining feature of the current tape. That is a bearish near-term signal, but with the EMA200 more than 1,900 points below, this remains a pullback in a bull market rather than a trend change.

Structure: the index has printed lower highs since the 30,762 swing peak and has now given back 5.6% from that level. Five of the last six sessions have closed lower, with the 30,000 handle rejected decisively. Sequence of closes: 29,995 - 29,491 - 29,426 - 29,213 - 29,309 - 29,023.

Phase: corrective / consolidation within a primary uptrend. Bulls need a reclaim of 29,127 then 29,389 to argue the pullback is over. Bears need a daily close under 28,876 to open the next leg.


MOMENTUM AND VOLUME
RSI(14): 46.31 - mid-range and drifting, neither oversold nor overbought. There is no bullish divergence in place: RSI has been making lower highs alongside price since the highs, which is confirmation of the pullback rather than a warning of reversal. The 40 level is the line that matters - a break below it would signal the correction is deepening.

MACD: 90.81, Signal 127.70, Histogram -36.89 - the MACD line has crossed below its signal line and the histogram is expanding negative. Both lines remain above zero, so this is a momentum deceleration signal, not a trend reversal signal. A move of the MACD line below zero would be the more serious tell.

Volume: 1.13bn versus 1.41bn average. Selling on light volume is the single most constructive thing about today's tape. There is no evidence of institutional distribution - this looks like an absence of buyers into event risk rather than active supply.

Component momentum: only 18 of 40 have RSI above 50 and only 18 of 40 have a bullish MACD. 20 of 40 closed below their 60-day VWAP POC. Internals are neutral at best.


KEY INDEX LEVELS
Resistance
R1 29,127 - EMA20, the first line the bulls must reclaim
R2 29,158 - today's high and classic pivot R1, immediate overhead supply
R3 29,389 - EMA50, the level that defines whether this pullback ends

Support
S1 29,017 - daily pivot, price closed almost exactly on it
S2 28,876 - today's low and classic pivot S1, the make-or-break level
S3 28,741 - classic pivot S2, next measured downside shelf

Classic pivots: S2 28,741.03 | S1 28,882.11 | P 29,017.04 | R1 29,158.12 | R2 29,293.05

Camarilla: S4 28,871.38 | S3 28,947.28 | S1 28,997.88 || R1 29,048.48 | R3 29,099.08 | R4 29,174.99

Round numbers: 29,000 (immediately below, psychological pivot), 28,500, 30,000 (rejected, now major overhead).


COMPONENT SIGNALS - ALL 40
Trend classification is strict close-versus-EMA. RSI is 14-period. POC is the 60-day VWAP point of control.

Mega-cap Tech
AAPL 310.34 (+0.32%) | MIXED (below 20, above 50, above 200) | RSI 48.2 | MACD bear | -9.9% off 52wH | above POC
MSFT 487.31 (+0.84%) | BULL (above all) | RSI 64.0 | MACD bear | -12.0% off 52wH | above POC
AMZN 262.07 (+1.33%) | BULL (above all) | RSI 52.5 | MACD bear | -8.8% off 52wH | above POC
GOOGL 348.06 (+0.94%) | MIXED (above 20, below 50, above 200) | RSI 49.5 | MACD bear | -14.8% off 52wH | below POC
META 559.02 (+1.66%) | BEAR (below all) | RSI 42.3 | MACD bear | -29.3% off 52wH | below POC
TSLA 349.03 (-3.81%) | MIXED (above 20, below 50, below 200) | RSI 51.4 | MACD bull | -30.0% off 52wH | below POC

Semiconductors
NVDA 208.48 (-2.92%) | BEAR (below 20/50) | RSI 44.6 | MACD bear | -11.9% off 52wH | above POC
AVGO 358.76 (-2.63%) | BEAR (below all) | RSI 35.4 | MACD bear | -27.5% off 52wH | below POC
AMD 456.75 (-3.49%) | BEAR (below 20/50) | RSI 42.5 | MACD bear | -21.9% off 52wH | below POC
QCOM 158.53 (-1.38%) | BEAR (below all) | RSI 41.5 | MACD bull | -39.0% off 52wH | below POC
TXN 258.94 (-2.05%) | BEAR (below 20/50) | RSI 36.2 | MACD bear | -22.5% off 52wH | below POC
AMAT 484.19 (-1.65%) | BEAR (below 20/50) | RSI 41.7 | MACD bear | -34.5% off 52wH | below POC
MU 910.43 (-5.83%) | MIXED (below 20, above 50, above 200) | RSI 48.5 | MACD bull | -27.5% off 52wH | below POC
LRCX 310.17 (-1.22%) | BEAR (below 20/50) | RSI 47.2 | MACD bull | -29.3% off 52wH | below POC
KLAC 181.57 (-1.32%) | BEAR (below 20/50) | RSI 38.7 | MACD bear | -40.9% off 52wH | below POC
ADI 371.17 (-0.51%) | BEAR (below 20/50) | RSI 44.3 | MACD bear | -16.8% off 52wH | below POC
MRVL 229.21 (-3.30%) | BULL (above all) | RSI 52.9 | MACD bull | -30.5% off 52wH | below POC

Software / Cloud / Networking
ADBE 276.27 (+0.35%) | BULL (above all) | RSI 62.9 | MACD bull | -25.5% off 52wH | above POC
INTU 369.92 (+0.80%) | BULL (above 20/50) | RSI 69.0 | MACD bull | -47.5% off 52wH | above POC
PANW 350.90 (-1.99%) | MIXED (below 20, above 50, above 200) | RSI 48.5 | MACD bear | -12.0% off 52wH | above POC
CRWD 190.68 (-0.66%) | BEAR (below 20/50) | RSI 42.0 | MACD bear | -16.2% off 52wH | above POC
SNPS 394.51 (-0.84%) | BEAR (below all) | RSI 41.7 | MACD bull | -35.9% off 52wH | below POC
CDNS 315.92 (-0.97%) | BEAR (below all) | RSI 35.4 | MACD bear | -24.2% off 52wH | below POC
WDAY 199.15 (-0.43%) | BULL (above all) | RSI 66.2 | MACD bull | -20.3% off 52wH | above POC
FTNT 152.03 (-0.96%) | MIXED (below 20, above 50, above 200) | RSI 44.2 | MACD bear | -11.7% off 52wH | below POC
CSCO 110.23 (-0.73%) | BEAR (below 20/50) | RSI 41.2 | MACD bear | -15.4% off 52wH | below POC

Consumer / Internet
COST 971.40 (+2.50%) | BULL (above all) | RSI 57.6 | MACD bull | -11.4% off 52wH | above POC
NFLX 80.01 (+0.53%) | BULL (above 20/50) | RSI 62.6 | MACD bull | -36.9% off 52wH | above POC
BKNG 213.36 (+1.78%) | BULL (above all) | RSI 63.9 | MACD bear | -8.0% off 52wH | above POC
MELI 1,947.90 (+1.31%) | BULL (above all) | RSI 61.1 | MACD bull | -23.6% off 52wH | above POC
ABNB 190.21 (+1.55%) | BULL (above all) | RSI 73.5 | MACD bull | -1.7% off 52wH | above POC
DASH 229.06 (+2.49%) | BULL (above all) | RSI 73.2 | MACD bull | -19.8% off 52wH | above POC
PYPL 61.68 (+0.21%) | BULL (above all) | RSI 69.5 | MACD bear | -22.1% off 52wH | above POC
MAR 360.20 (+1.07%) | MIXED (above 20, below 50, above 200) | RSI 48.8 | MACD bull | -12.4% off 52wH | below POC
ORLY 90.68 (+1.76%) | BULL (above 20/50) | RSI 51.6 | MACD bear | -16.6% off 52wH | above POC
TMUS 182.62 (-0.23%) | BULL (above 20/50) | RSI 52.1 | MACD bull | -30.1% off 52wH | above POC

Healthcare / Biotech
REGN 828.50 (-0.66%) | BULL (above all) | RSI 73.5 | MACD bull | -2.2% off 52wH | above POC
ISRG 373.57 (-1.38%) | BEAR (below all) | RSI 45.2 | MACD bear | -38.1% off 52wH | below POC

Industrial / Other
LIN 490.03 (+0.50%) | MIXED (above 20, below 50, above 200) | RSI 47.7 | MACD bull | -10.6% off 52wH | below POC
CEG 273.43 (+0.20%) | BULL (above 20/50) | RSI 53.4 | MACD bear | -33.7% off 52wH | above POC


SECTOR READ
Semiconductors (11 names): 11 of 11 closed red. This was a clean, indiscriminate sector liquidation. AVGO RSI 35.4, TXN RSI 36.2 and KLAC RSI 38.7 are the weakest readings in the index. Only MRVL holds a bullish EMA stack, and it closed -3.30% and below its POC. Eight of the eleven are trading below their 60-day POC. This is the index's problem child.

Mega-cap Tech (6 names): mixed and increasingly split. MSFT and AMZN hold bullish stacks above all three EMAs; META sits below all three and 29.3% off its 52-week high; TSLA lost 3.81% and trades below both its 50 and 200 EMA. AAPL and GOOGL are in mixed configurations - AAPL just under its EMA20, GOOGL just under its EMA50. No leadership here.

Consumer / Internet (10 names): 9 of 10 closed green and this is where the leadership sits. ABNB (RSI 73.5, 1.7% off its 52-week high), DASH (RSI 73.2) and PYPL (RSI 69.5) are the standouts. Eight of the ten trade above their POC. Defensive-growth rotation is live.

Software / Cloud / Networking (9 names): genuinely two-tier. INTU (RSI 69.0), WDAY (RSI 66.2) and ADBE (RSI 62.9) are strong and above all EMAs; SNPS and CDNS sit below all three, with CDNS RSI at 35.4 and its EDA peer weakness mirroring the semi selloff. CRWD is below its 20/50 into Wednesday earnings.

Healthcare / Biotech (2 names): the strongest small group. REGN closed 828.50, RSI 73.5, only 2.2% off its 52-week high with a bullish EMA stack and price 23% above its POC. ISRG is the opposite - below all EMAs and 38.1% off its high.

Industrial / Other (2 names): LIN is mixed and below POC; CEG holds above its 20/50 but remains below its EMA200 and 33.7% off its high. Neither offers a signal.


TOP SWING SETUPS


1. REGN - LONG on breakout
The cleanest chart in the index. Bullish EMA stack (783.98 / 732.86 / 704.57), RSI 73.5, MACD 38.48 above signal 37.50, and price 23%% above its 673.60 POC. It is 2.2%% from a 52-week high at 847.00 having barely participated in today's weakness (-0.66%%).
Entry: 847.10 on a break of the 52-week high · Stop: 827.50 (1 ATR, ATR 19.63) · T1: 875.00 · T2: 905.00 · R:R: 1.4 to T1, 3.0 to T2
Confluence: 52-week high breakout, all-EMA alignment, POC far below, healthcare is the strongest sector group, no index-wide event risk on the name.


2. ABNB - LONG on breakout
ABNB closed 190.21 (+1.55%%) with today's high printing exactly at the 52-week high of 193.45. RSI 73.5, MACD 10.76 over 9.69, and a bullish stack (173.78 / 159.42 / 141.34). Price sits 23%% above its 154.67 POC.
Entry: 193.55 on a break of 193.45 · Stop: 187.00 (below today's low 188.53, 1.1 ATR) · T1: 202.00 · T2: 210.00 · R:R: 1.3 to T1, 2.5 to T2
Confluence: 52-week high tag on an up day while the index fell, consumer / internet leadership, well-extended above POC. Note RSI above 70 - size accordingly.


3. DASH - LONG on continuation
Best absolute performer among the large-cap consumer names, +2.49%% to 229.06 on an index down day. Bullish stack (211.15 / 196.58 / 190.61), RSI 73.2, MACD 9.64 over 8.77, price 23%% above the 186.22 POC.
Entry: 230.20 above today's high of 230.07 · Stop: 222.00 (below pivot S1 222.67, 1 ATR, ATR 8.19) · T1: 242.85 · T2: 255.00 · R:R: 1.5 to T1, 3.0 to T2
Confluence: relative strength versus the index, pivot R3 as first target, clean EMA alignment, 19.8%% below its 52-week high so there is room to run.


4. AVGO - SHORT on breakdown
The weakest large-cap semi. Below all three EMAs (387.88 / 391.06 / 365.83), RSI 35.4, MACD -6.56 well beneath signal -0.35, and price 9.6% below its 396.65 POC. Closed -2.63% and effectively on its low (close 358.76, low 358.71).
Entry: 358.60 on a break of today's low · Stop: 370.60 (below the EMA200 reclaim zone, 0.8 ATR, ATR 14.89) · T1: 340.00 · T2: 322.00 · R:R: 1.5 to T1, 3.0 to T2
Confluence: closed on the low, full bearish EMA alignment, POC far overhead, entire sector red. The EMA200 at 365.83 is now resistance rather than support - that is the key structural change.


5. CDNS - SHORT on breakdown
Below all three EMAs (328.22 / 341.56 / 334.13) with the tell being that the EMA50 has crossed above the EMA200 order - price is beneath both. RSI 35.4 is joint-weakest in the index, MACD -9.84 under signal -9.68, and price is 12.7% below its 361.84 POC.
Entry: 311.30 on a break of today's low of 311.43 · Stop: 322.50 (1 ATR, ATR 10.78) · T1: 297.00 · T2: 285.00 · R:R: 1.3 to T1, 2.4 to T2
Confluence: EDA weakness confirms the wider semiconductor decline, deeply bearish stack, no support until the 52-week low region at 262.75.


INTRADAY SETUPS - TUESDAY


1. AMZN - Camarilla long, EMA20 confluence
The single best level confluence on the board: Camarilla S3 at 260.90 sits exactly on the EMA20 at 260.90. AMZN closed +1.33%% with a bullish stack and price 5.3%% above its 248.96 POC.
Entry: 260.90 on the first tag · Stop: 259.60 (below Cam S4 259.72) · T1: 262.85 (Cam R2) · T2: 263.91 (pivot R1) · R:R: 1.5 to T1, 2.3 to T2
Direction: long. Exact-level confluence of a Camarilla reversal band and a rising EMA20 in a name that outperformed today.


2. NVDA - Camarilla range fade
NVDA closed 208.48, sitting almost exactly on its 208.01 POC after seven consecutive down sessions. Camarilla range is 206.19 to 210.77 with the daily pivot at 210.44.
Entry: 206.20 (Cam S3) · Stop: 203.80 (below Cam S4 203.89) · T1: 209.24 (Cam R1) · T2: 210.44 (pivot) · R:R: 1.3 to T1, 1.8 to T2
Direction: long, mean-reversion only. Warning: earnings Wednesday after the close. This is a Tuesday-only trade - flat by Wednesday's close, no exceptions. Seven red days into a print is stretched, but do not hold through the event.


3. AAPL - pivot bounce
Very tight Camarilla range (309.41 to 311.27) with the daily pivot at 311.22 and the EMA20 immediately above at 311.88. AAPL closed 310.34, just beneath both, and remains above its 306.93 POC.
Entry: 309.45 (Cam S3) · Stop: 308.20 (below Cam S4 308.48) · T1: 310.65 (Cam R1) · T2: 311.22 (pivot) · R:R: 1.0 to T1, 1.4 to T2
Direction: long. Tight range means tight risk. A clean break and hold above 311.88 flips AAPL back to a bullish stack and opens pivot R2 at 314.61 - that is the better trade if it comes.


4. MSFT - Camarilla breakout
The strongest mega-cap stack in the index: 471.63 / 442.37 / 432.50 with price 17%% above its 416.04 POC. MSFT closed +0.84%% at 487.31. Cam R4 at 492.12 is the breakout trigger.
Entry: 492.20 above Cam R4 · Stop: 488.90 (back inside the Cam R3 band) · T1: 495.34 (pivot R2) · T2: 500.08 (pivot R3) · R:R: 1.0 to T1, 2.4 to T2
Direction: long breakout. Only valid on a decisive move through 492.12 - inside the band this becomes a range and the setup is void.


5. META - oversold Camarilla bounce
META is structurally the weakest mega-cap (below all three EMAs, 29.3% off its 52-week high) but it closed +1.66% on an index down day, which is the first sign of stabilisation in weeks. RSI 42.3.
Entry: 554.90 (Cam S3) · Stop: 549.70 (below Cam S4 550.70) · T1: 560.41 (Cam R1) · T2: 564.86 (pivot R1) · R:R: 1.1 to T1, 1.9 to T2
Direction: long, counter-trend and tactical only. The EMA20 at 575.59 is heavy resistance and the POC at 594.98 is 6.4% overhead - this is a bounce trade, not a reversal trade. Half-size.


KEY LEVELS DASHBOARD - TOP 5 WEIGHTS


AAPL - 310.34
Cam: S4 | S3 | S1 308.48 | 309.41 | 310.03 || R1 | R3 | R4 310.65 | 311.27 | 312.20
Classic: S3 | S2 | S1 305.70 | 307.83 | 309.09 || R1 | R2 | R3 312.48 | 314.61 | 315.87
EMA 20/50/200: 311.88 / 309.42 / 283.45 · POC: 306.93
Prev H/L: 313.36 / 309.97 · 52w H/L: 344.57 / 224.69


MSFT - 487.31
Cam: S4 | S3 | S1 482.50 | 484.90 | 486.51 || R1 | R3 | R4 488.11 | 489.72 | 492.12
Classic: S3 | S2 | S1 473.83 | 477.84 | 482.58 || R1 | R2 | R3 491.33 | 495.34 | 500.08
EMA 20/50/200: 471.63 / 442.37 / 432.50 · POC: 416.04
Prev H/L: 490.61 / 481.86 · 52w H/L: 553.72 / 349.20


NVDA - 208.48
Cam: S4 | S3 | S1 203.89 | 206.19 | 207.72 || R1 | R3 | R4 209.24 | 210.77 | 213.07
Classic: S3 | S2 | S1 196.95 | 202.10 | 205.29 || R1 | R2 | R3 213.63 | 218.78 | 221.97
EMA 20/50/200: 214.79 / 210.46 / 195.49 · POC: 208.01
Prev H/L: 215.59 / 207.25 · 52w H/L: 236.54 / 164.07


AMZN - 262.07
Cam: S4 | S3 | S1 259.72 | 260.90 | 261.68 || R1 | R3 | R4 262.46 | 263.24 | 264.42
Classic: S3 | S2 | S1 255.37 | 257.21 | 259.64 || R1 | R2 | R3 263.91 | 265.75 | 268.18
EMA 20/50/200: 260.90 / 255.11 / 240.65 · POC: 248.96
Prev H/L: 263.32 / 259.05 · 52w H/L: 287.20 / 196.00


GOOGL - 348.06
Cam: S4 | S3 | S1 343.05 | 345.55 | 347.22 || R1 | R3 | R4 348.90 | 350.57 | 353.07
Classic: S3 | S2 | S1 334.06 | 338.27 | 343.17 || R1 | R2 | R3 352.28 | 356.49 | 361.39
EMA 20/50/200: 347.70 / 350.94 / 324.81 · POC: 353.32
Prev H/L: 351.60 / 342.49 · 52w H/L: 408.61 / 201.30


BEARISH WARNINGS
1. Index MACD sell signal. MACD 90.81 crossed below signal 127.70 with the histogram expanding to -36.89. The EMA20 has also crossed below the EMA50. Both are near-term negatives.

2. Six names below all three EMAs: META, AVGO, QCOM, ISRG, SNPS, CDNS. That is 15% of the index in full bearish alignment, and it includes two mega-caps.

3. Semiconductor breadth collapse. All eleven chip names red on the day, with eight trading below their POC. AVGO and CDNS share the weakest RSI reading at 35.4; TXN 36.2; KLAC 38.7. When the highest-beta sector in the index has zero green names, the index does not lead.

4. AMD EMA compression. EMA20 484.94 and EMA50 484.39 have converged to within 0.55 points with price 5.7% below both at 456.75. A bearish crossover here is imminent and AMD sits 21.9% off its high.

5. COST long-term MA inversion. EMA50 955.43 is below EMA200 962.71 - a death cross is already in place - even though price closed +2.50% above both. Strong day, weak structure. Do not confuse the two.

6. Distance-from-high warnings. INTU -47.5%, KLAC -40.9%, QCOM -39.0%, ISRG -38.1%, NFLX -36.9%, SNPS -35.9%, AMAT -34.5%. Several of these are rallying hard off lows (INTU RSI 69.0, NFLX RSI 62.6) but they are still deep repair jobs, not fresh breakouts.

7. Complacency into event risk. VIX at 15.13 ahead of PCE, NVDA earnings and Jackson Hole in the same week is thin protection. Options are cheap for a reason - use them rather than sizing up on stock.


EVENTS CALENDAR
Tuesday 25 August
US Consumer Confidence - 10:00 ET / 15:00 UK. First read on whether the consumer is holding up. Direct read-through to the COST / ORLY / MAR / ABNB / DASH complex that led today.

Wednesday 26 August - the week's pivot
July PCE inflation, Q2 GDP revision and Durable Goods Orders - 08:30 ET / 13:30 UK. Headline PCE expected +0.1%% m/m, annual rate seen easing to 3.6%% from 3.7%%.
NVDA Q2 FY2027 results - approx 16:20 ET / 21:20 UK, call 17:00 ET. Consensus around $92bn revenue, +96.9%% y/y. This single print sets the tone for all eleven semiconductor names and, given the weighting, for the index.
CRWD Q2 results - after the US close, call 17:00 ET. CRWD closed below its 20 and 50 EMA today at 190.68.

Thursday 27 August
MRVL fiscal Q2 2027 results - after the close (confirmed). MRVL fell 3.30%% today and trades below its POC despite a bullish EMA stack.

Friday 28 August
Jackson Hole keynote from Fed Chair Kevin Warsh. Expect volatility into the European afternoon.

Planning note: Wednesday carries PCE at 13:30 UK and NVDA at 21:20 UK on the same day. Any index-level directional position taken on Tuesday should be sized on the assumption that Wednesday gaps.


Report: 24 August 2026 22:00 GMT · Not financial advice. Always DYOR. Capital at risk.

NASDAQ 100 (NAS100) - DAILY TECHNICAL REPORT - Friday 21 August 2026
Data: Close 21 Aug 2026 (scanner date 2026-08-21, all 40 components current) | NAS100: 29,308.86 | Change: +95.69 (+0.33%) | Range: 29,142.44 - 29,405.12




MARKET OVERVIEW
The NASDAQ 100 closed at 29,308.86, up +95.69 points (+0.33%) on a 262.68-point range (29,142.44 - 29,405.12). Volume 1.14bn, slightly below the 1.18-1.28bn seen on the three prior sessions.
That green print flatters a poor week. The index came into Monday at 30,046.14 and finished the week at 29,308.86 - a -2.45% weekly decline, with Wednesday (-1.68%) and Thursday (-0.72%) doing the damage as long-end Treasury volatility knocked risk appetite. Friday was a stabilisation bounce, not a reversal: the index opened at 29,359.60, sold to 29,142.44 (a fresh marginal low versus Thursday's 29,118.07 hold), then recovered into the close.
The VIX rose 7.5% to 16.01 - still historically calm, but rising on an up day for equities is a mild warning that hedging demand is building ahead of next week's event block (Jackson Hole, PCE and NVIDIA earnings).
Drivers: Tesla (+5.14%, 1.67x relative volume) was the single biggest contributor. Palo Alto Networks (+2.43%), Fortinet (+1.80%) and Cadence (+1.73%) added support. Semiconductors stayed heavy - Marvell (-5.57%), KLA (-1.01%), NVIDIA (-0.97%), Applied Materials (-0.78%) and Micron (-0.77%) all closed red.
Bias: Neutral with a corrective tilt. The index is below its 20 EMA but comfortably above its 50 and 200 EMA, RSI is dead-centre at 50.0, and the MACD has just crossed bearish. This is consolidation inside a longer-term uptrend, not a breakdown - but the burden of proof now sits with the bulls to reclaim 29,480.




TREND STRUCTURE
EMA stack (NAS100 daily): EMA20 29,480.14 . EMA50 29,131.54 . EMA200 27,098.12
The stack itself remains bullish-aligned (20 > 50 > 200). Price at 29,308.86 sits below the 20 EMA (-0.58%) but above the 50 EMA (+0.61%) and a long way above the 200 EMA (+8.16%).
Structure: Lower highs since 30,195.72 (17 Aug) - 29,677.29 - 29,652.30 - 29,378.81 - 29,405.12. Lows have flattened out at 29,118.07 / 29,142.44, so the sequence is a descending wedge into horizontal support rather than a clean downtrend.
Phase: Pullback / consolidation within a Stage 2 advance. The 20 EMA (29,480) and the 50 EMA (29,131) now bracket price in a 349-point box - that box is the market. A daily close outside it defines the next leg.




MOMENTUM INDICATORS
RSI(14): 49.97 - textbook neutral. No overbought unwind left to do, no oversold bounce to lean on. There is no bullish divergence at the 29,118-29,142 lows: RSI has fallen with price, which is confirmation of the pullback rather than a warning it is ending.
MACD: 135.02, Signal 136.93, Histogram -1.90 - a fresh bearish cross. The MACD line is still well above zero, so the medium-term trend has not flipped, but momentum has rolled over. Histogram is only marginally negative, meaning the cross is 1-2 sessions old and could still be rejected.
Volume: 1.14bn on the bounce versus 1.18bn on Thursday's decline and 1.27-1.28bn on Tuesday/Wednesday's selling. Declines are trading on heavier volume than advances - distribution, not accumulation.




KEY INDEX LEVELS
Resistance: R1 29,405 (today high, classic R1 29,428) . R2 29,480 (20 EMA - the pivot level for the whole structure) . R3 29,652-29,677 (18-19 Aug swing highs)
Support: S1 29,118-29,142 (two-day low cluster) . S2 29,131 (50 EMA - overlaps S1, making 29,118-29,142 the single most important zone on the chart) . S3 29,023 (classic S2), then 28,903 (classic S3)
Classic pivots (from 21 Aug bar): S2 29,022.79 . S1 29,165.83 . P 29,285.48 . R1 29,428.51 . R2 29,548.16
Camarilla: S4 29,164.38 . S3 29,236.62 . S1 29,284.78 || R1 29,332.94 . R3 29,381.10 . R4 29,453.33
Round numbers: 29,000 . 29,500 . 30,000 (the 30,000 handle capped the index all of last week and is now the bull objective).
The trade in one line: the 29,118-29,142 low cluster sitting directly on the 50 EMA at 29,131 is a triple-confluence floor. Hold it and 29,480 comes back into play. Lose it on a daily close and 29,023 then 28,903 open up quickly.




COMPONENT SIGNALS - ALL 40
Trend uses strict EMA rules (close versus each EMA - no "at" or "near"). Every classification below was verified programmatically against close vs EMA20/EMA50/EMA200: zero mismatches.
AAPL 309.35 -0.63% . Bear (below 20/50) . RSI Bear 47.3 . MACD Bear . -10.2% from 52wH . Above POC
MSFT 483.24 +0.43% . Bull (above all) . RSI Bull 62.4 . MACD Bear . -12.7% from 52wH . Above POC
NVDA 214.75 -0.97% . Mixed (<20 >50 >200) . RSI Bull 51.0 . MACD Bear . -9.2% from 52wH . Above POC
AMZN 258.63 -0.57% . Mixed (<20 >50 >200) . RSI Bear 49.7 . MACD Bear . -9.9% from 52wH . Above POC
META 549.90 +0.75% . Bear (below all) . RSI Bear 38.7 . MACD Bear . -30.5% from 52wH . Below POC
GOOGL 344.82 +1.22% . Bear (below 20/50) . RSI Bear 47.2 . MACD Bear . -15.6% from 52wH . Below POC
AVGO 368.45 +1.21% . Bear (below 20/50) . RSI Bear 38.7 . MACD Bear . -25.6% from 52wH . Below POC
TSLA 362.86 +5.14% . Bull (above 20/50) . RSI Bull 58.0 . MACD Bull . -27.3% from 52wH . Below POC
COST 947.74 +1.52% . Bear (below all) . RSI Bear 49.0 . MACD Bear . -13.6% from 52wH . Below POC
NFLX 79.59 -0.69% . Bull (above 20/50) . RSI Bull 61.6 . MACD Bull . -37.2% from 52wH . Above POC
AMD 473.25 +0.81% . Bear (below 20/50) . RSI Bear 45.8 . MACD Bear . -19.1% from 52wH . Below POC
ADBE 275.30 +1.13% . Bull (above all) . RSI Bull 62.5 . MACD Bull . -25.8% from 52wH . Above POC
QCOM 160.75 +0.01% . Bear (below all) . RSI Bear 43.6 . MACD Bull . -38.2% from 52wH . Below POC
TMUS 183.04 +1.00% . Bull (above 20/50) . RSI Bull 52.7 . MACD Bull . -29.9% from 52wH . Above POC
LIN 487.57 +1.30% . Bear (below all) . RSI Bear 45.6 . MACD Bull . -11.1% from 52wH . Below POC
ISRG 378.81 +1.16% . Bear (below all) . RSI Bear 47.6 . MACD Bull . -37.3% from 52wH . Below POC
INTU 367.00 +1.42% . Bull (above 20/50) . RSI Bull 68.1 . MACD Bull . -47.9% from 52wH . Above POC
CSCO 111.04 +1.32% . Bear (below 20/50) . RSI Bear 42.4 . MACD Bear . -14.8% from 52wH . Below POC
TXN 264.36 -0.47% . Bear (below 20/50) . RSI Bear 39.0 . MACD Bear . -20.9% from 52wH . Below POC
AMAT 492.32 -0.78% . Bear (below 20/50) . RSI Bear 43.1 . MACD Bear . -33.4% from 52wH . Below POC
BKNG 209.62 -0.12% . Bull (above all) . RSI Bull 60.8 . MACD Bear . -9.6% from 52wH . Above POC
PANW 358.04 +2.43% . Mixed (<20 >50 >200) . RSI Bull 51.6 . MACD Bear . -10.2% from 52wH . Above POC
MU 966.78 -0.77% . Bull (above all) . RSI Bull 54.3 . MACD Bull . -23.0% from 52wH . Below POC
LRCX 314.00 +1.12% . Bear (below 20/50) . RSI Bear 48.4 . MACD Bull . -28.4% from 52wH . Below POC
KLAC 183.99 -1.01% . Bear (below 20/50) . RSI Bear 39.8 . MACD Bear . -40.1% from 52wH . Below POC
ADI 373.09 +0.77% . Bear (below 20/50) . RSI Bear 45.3 . MACD Bear . -16.3% from 52wH . Below POC
REGN 834.04 +0.90% . Bull (above all) . RSI OB 76.4 . MACD Bull . -1.5% from 52wH . Above POC
SNPS 397.87 -0.01% . Bear (below all) . RSI Bear 43.5 . MACD Bull . -35.4% from 52wH . Below POC
CDNS 319.02 +1.73% . Bear (below all) . RSI Bear 37.2 . MACD Bear . -23.4% from 52wH . Below POC
MELI 1922.73 +0.04% . Bull (above all) . RSI Bull 58.9 . MACD Bull . -24.6% from 52wH . Above POC
CRWD 191.95 +0.85% . Mixed (<20 >50 >200) . RSI Bear 42.8 . MACD Bear . -15.6% from 52wH . Above POC
MAR 356.39 -0.06% . Bear (below 20/50) . RSI Bear 45.1 . MACD Bull . -13.3% from 52wH . Below POC
ABNB 187.30 +1.24% . Bull (above all) . RSI OB 71.8 . MACD Bull . -1.0% from 52wH . Above POC
MRVL 237.04 -5.57% . Bull (above all) . RSI Bull 55.8 . MACD Bull . -28.1% from 52wH . Below POC
DASH 223.49 +0.51% . Bull (above all) . RSI Bull 69.9 . MACD Bull . -21.7% from 52wH . Above POC
FTNT 153.51 +1.80% . Mixed (<20 >50 >200) . RSI Bear 45.8 . MACD Bear . -10.8% from 52wH . Above POC
CEG 272.88 -0.01% . Bull (above 20/50) . RSI Bull 53.0 . MACD Bear . -33.9% from 52wH . Above POC
WDAY 200.01 +1.36% . Bull (above all) . RSI Bull 66.9 . MACD Bull . -19.9% from 52wH . Above POC
PYPL 61.55 -1.20% . Bull (above all) . RSI Bull 69.1 . MACD Bear . -22.3% from 52wH . Above POC
ORLY 89.11 +0.03% . Bear (below all) . RSI Bear 46.3 . MACD Bear . -18.0% from 52wH . Above POC




BREADTH SUMMARY
Advancers 26 / Decliners 14 - a solid day on the surface.
Trend split: Bull (above all) 11 . Bull (above 20/50) 5 . Bear (below 20/50) 11 . Bear (below all) 8 . Mixed 5
That is the real story: 19 of 40 components (47.5%) are below both their 20 and 50 day EMA while the index itself is only 0.6% below its 20 EMA. Index-level resilience is being carried by a shrinking group of leaders.
MACD: 18 of 40 bullish, 22 bearish. Above 60-day POC: 20 of 40 - a dead-even split.
RSI extremes: Overbought - REGN 76.4, ABNB 71.8. Weakest - CDNS 37.2, META 38.7, AVGO 38.7, TXN 39.0, KLAC 39.8.




SECTOR GROUPING
Mega-cap Tech: AAPL -0.63% . MSFT +0.43% . NVDA -0.97% . AMZN -0.57% . META +0.75% . GOOGL +1.22% . TSLA +5.14%
Split down the middle. MSFT is the only one bullish on all three EMAs. NVDA and AMZN are Mixed (below 20, above 50 and 200) - both are one good session from repairing. AAPL and GOOGL are below both short EMAs. META is the outlier and the group's dead weight: below all three EMAs with a fully inverted stack. TSLA is the bright spot, reclaiming its 20 and 50 EMA on 1.67x volume.
Semiconductors: AVGO +1.21% . AMD +0.81% . QCOM +0.01% . TXN -0.47% . AMAT -0.78% . MU -0.77% . LRCX +1.12% . KLAC -1.01% . ADI +0.77% . MRVL -5.57%
The weakest group in the index. Seven of ten are below both their 20 and 50 EMA. Only MU (bull, all three, with a fresh MACD cross) and MRVL (bull all three despite a -5.57% day) hold constructive structures. AVGO, QCOM and TXN are the worst - all below all three or with EMA200 immediately underneath. Semis have not participated in the index bounce, and with NVDA reporting Wednesday this group carries the week's risk.
Software / Cloud: ADBE +1.13% . INTU +1.42% . CSCO +1.32% . PANW +2.43% . SNPS -0.01% . CDNS +1.73% . CRWD +0.85% . FTNT +1.80% . WDAY +1.36%
The genuine leadership. ADBE, INTU and WDAY are all bullish with MACD confirming, and INTU (RSI 68.1) and WDAY (RSI 66.9) are the strongest momentum names in the whole 40. PANW, CRWD and FTNT are Mixed - below the 20 EMA, above the 50 and 200. SNPS and CDNS are the exceptions and are outright broken (below all three EMAs, RSI in the 30s).
Consumer / Internet: COST +1.52% . NFLX -0.69% . BKNG -0.12% . MELI +0.04% . MAR -0.06% . ABNB +1.24% . DASH +0.51% . PYPL -1.20% . ORLY +0.03% . TMUS +1.00%
Quietly the best group. BKNG, MELI, ABNB, DASH and PYPL are all above every EMA, and ABNB is 1.0% from a 52-week high. NFLX and TMUS are above their 20/50 but below the 200. Only COST and ORLY are below all three - both with tightly compressed, inverting EMA stacks that warrant watching.
Healthcare / Biotech: ISRG +1.16% . REGN +0.90%
A tale of two charts. REGN closed at 834.04 having tagged a new 52-week high of 847.00 intraday - above all EMAs, MACD firmly bullish, RSI 76.4. ISRG is the mirror image: below all three EMAs and 37.3% below its 52-week high.
Industrial / Other: LIN +1.30% . CEG -0.01%
LIN is below all three EMAs but the 20 (489.44) and 200 (487.86) are only 0.3% apart with price at 487.57 - a genuine decision point. CEG is above its 20 and 50 but 5.0% below its 200 EMA, and 33.9% off its high.




TOP SWING SETUPS
1. ABNB - LONG (52-week high breakout)
Above all three EMAs, MACD bullish (10.64 vs 9.42), RSI 71.8, and trading 21.9% above its 60-day POC of 153.59 - no overhead supply anywhere. Closed at 187.30, just 1.0% below the 52-week high of 189.20 after an intraday 188.60.
Entry: 189.30 (on a break of the 52w high) . Stop: 181.70 (below classic S2 182.45) . T1: 200.00 . T2: 208.50 . R:R: 1:1.41 / 1:2.53
Confluence: 52w high breakout + full EMA alignment + MACD expansion + POC 34 points below. Risk: RSI already 71.8 - a failed breakout would be a clean short signal.

2. REGN - LONG (all-time-area breakout)
Today's high of 847.00 is the 52-week high. Close 834.04, above all three EMAs (779.29 / 728.96 / 703.33), MACD 39.41 vs signal 37.26 and widening, relative volume 0.95.
Entry: 847.50 . Stop: 824.50 (below today's low 826.64 and classic S1) . T1: 878.00 . T2: 905.00 . R:R: 1:1.33 / 1:2.50
Confluence: New 52w high + strongest EMA separation in the index + POC 671.10 (24% below). Risk: RSI 76.4 is the most overbought reading in the 40 - size accordingly and expect a shakeout first.

3. TSLA - LONG (EMA reclaim, pullback entry)
The day's standout: +5.14% on 1.67x relative volume, reclaiming both the 20 EMA (342.10) and 50 EMA (358.78) in one session, with a MACD bullish cross (-3.33 vs -9.56). Still below the 200 EMA at 382.85 and below its POC of 375.39, so this is a counter-trend recovery, not a trend trade.
Entry: 358.80 (pullback to 50 EMA / classic pivot 358.75) . Stop: 341.50 (below 20 EMA) . T1: 375.40 (POC) . T2: 382.85 (200 EMA) . R:R: 1:0.96 / 1:1.39
Confluence: Pivot 358.75 and 50 EMA 358.78 are the same number - a rare exact overlap. Volume confirms. Risk: modest R:R; the POC at 375.39 is real overhead supply and the 200 EMA above it is the harder wall.

4. META - SHORT (broken structure, 52w low approach)
The weakest large-cap in the index. Below all three EMAs with a fully inverted stack (20: 577.34 < 50: 592.37 < 200: 621.94), RSI 38.7, MACD -14.11 versus signal -9.89 and still widening. Trading 30.5% below its 52-week high and 7.7% below its POC of 596.04. The 52-week low of 520.26 is only 5.4% away.
Entry: 543.00 (break of today's low 543.23) . Stop: 561.00 (above today's high 553.87 and Camarilla R4 555.75) . T1: 520.30 (52w low) . T2: 505.00 . R:R: 1:1.26 / 1:2.11
Confluence: Inverted EMA stack + expanding bearish MACD + below POC + no support until the 52w low. Risk: it closed up 0.75% today and RSI 38.7 is close to oversold - wait for the break, do not anticipate it.

5. AVGO - SHORT (200 EMA break)
Closed 368.45, below both the 20 EMA (390.94) and 50 EMA (392.37), with the 200 EMA at 365.90 sitting just 0.69% underneath. MACD has collapsed to -4.64 from a signal of +1.20 - the sharpest negative divergence between line and signal in the index. RSI 38.7, 25.6% below its 52-week high, 7.3% below POC 397.35.
Entry: 365.00 (on the 200 EMA break) . Stop: 376.00 (above today's high 375.13) . T1: 353.90 (classic S3) . T2: 340.00 . R:R: 1:1.01 / 1:2.27
Confluence: 200 EMA loss + MACD collapse + below POC + the weakest sector in the index. Risk: it closed up 1.21% today; the 200 EMA has to actually give way. No trade above 366.




INTRADAY SETUPS - MONDAY 24 AUGUST
1. MSFT - Pivot bounce LONG
Close 483.24 sits 0.53 above the classic pivot of 482.71. Above all three EMAs, the only mega-cap fully aligned. Direction: Long.
Entry: 482.90 on a hold of the pivot . Stop: 478.40 (below classic S1 479.06 and today's low 478.53) . Target: 486.89 (R1), stretch 490.54 (R2) . R:R: 1:0.89 / 1:1.70
Reasoning: pivot, prior close and the day's value area all coincide at 482.50-483.50. Cleanest pivot-reversion structure in the index.

2. NVDA - Camarilla range fade LONG
Close 214.75 is inside the Camarilla S1/R1 band (214.36 / 215.14) - the classic range-day signature. Mixed trend (below 20 EMA 215.45, above 50 EMA 210.54 and 200 EMA 195.36). Direction: Long from the lower band.
Entry: 213.58 (Camarilla S3) . Stop: 212.30 (below Camarilla S4 212.42) . Target: 215.14 (Cam R1), stretch 216.00 (pivot) . R:R: 1:1.22 / 1:1.89
Reasoning: Cam S3 213.58 also sits fractionally below today's low of 214.50 and above the 50 EMA. Invalidation: NVDA reports Wednesday - do not carry this past Tuesday's close.

3. AAPL - Camarilla breakout SHORT
Close 309.35 is below the 50 EMA at 309.38 and well below the 20 EMA at 312.04 - a Bear (below 20/50) classification, with the 60-day POC at 306.96 just underneath. Direction: Short on breakdown.
Entry: 307.70 (break of Camarilla S3 307.87) . Stop: 309.70 (back above the 50 EMA) . Target: 306.78 (S1) then 304.21 (S2) . R:R: 1:0.46 / 1:1.75
Reasoning: the POC at 306.96 will fight the first target - the trade only pays if 306.78 gives way and S2 comes into play. Tight stop, so keep size honest.

4. TSLA - Pivot bounce LONG
Wide-range day (346.90 - 366.50) leaves a widely spaced pivot set. Close 362.86 sits above the pivot of 358.75. Direction: Long on a retest.
Entry: 359.00 (pivot 358.75 / 50 EMA 358.78) . Stop: 351.00 (classic S1) . Target: 370.61 (R1), stretch 375.39 (POC) . R:R: 1:1.45 / 1:2.05
Reasoning: exact pivot / 50 EMA overlap plus yesterday's 1.67x volume expansion. Best risk-reward on the intraday board.

5. PANW - Camarilla breakout LONG
Rallied 2.43% off a 343.01 low to close 358.04, but still fractionally below the 20 EMA (360.20). Above the 50 EMA (332.43) and far above the 200 (251.88), with POC 318.85 well below. Direction: Long on continuation.
Entry: 360.70 (above Camarilla R3 362.85 is safer; 360.70 clears the 20 EMA and today's high 360.49) . Stop: 353.60 (below classic pivot 353.85) . Target: 364.68 (R1) then 371.33 (R2) . R:R: 1:0.56 / 1:1.50
Reasoning: reclaiming the 20 EMA would flip PANW from Mixed to Bull (above all). Risk: MACD is still bearish (9.86 vs 13.40), so this is a counter-momentum entry.




KEY LEVELS DASHBOARD - TOP 5 WEIGHTS
AAPL - 309.35 (-0.63%)
Camarilla: S4 306.40 . S3 307.87 . S1 308.86 || R1 309.84 . R3 310.83 . R4 312.30
Classic: S3 301.41 . S2 304.21 . S1 306.78 . P 309.58 . R1 312.15 . R2 314.95 . R3 317.52
EMAs: 20 312.04 . 50 309.38 . 200 283.18 . POC 306.96
Prev H/L: 312.38 / 307.01 . 52w H/L: 344.57 / 223.78 . ATR14 7.63

MSFT - 483.24 (+0.43%)
Camarilla: S4 478.93 . S3 481.09 . S1 482.52 || R1 483.96 . R3 485.39 . R4 487.55
Classic: S3 471.23 . S2 474.88 . S1 479.06 . P 482.71 . R1 486.89 . R2 490.54 . R3 494.72
EMAs: 20 469.98 . 50 440.53 . 200 431.95 . POC 415.73
Prev H/L: 486.36 / 478.53 . 52w H/L: 553.72 / 349.20 . ATR14 12.33

NVDA - 214.75 (-0.97%)
Camarilla: S4 212.42 . S3 213.58 . S1 214.36 || R1 215.14 . R3 215.92 . R4 217.08
Classic: S3 209.01 . S2 211.76 . S1 213.25 . P 216.00 . R1 217.49 . R2 220.24 . R3 221.73
EMAs: 20 215.45 . 50 210.54 . 200 195.36 . POC 208.07
Prev H/L: 218.74 / 214.50 . 52w H/L: 236.54 / 164.07 . ATR14 6.26

AMZN - 258.63 (-0.57%)
Camarilla: S4 256.40 . S3 257.52 . S1 258.26 || R1 259.00 . R3 259.74 . R4 260.86
Classic: S3 252.70 . S2 254.87 . S1 256.75 . P 258.92 . R1 260.80 . R2 262.97 . R3 264.85
EMAs: 20 260.78 . 50 254.83 . 200 240.43 . POC 249.15
Prev H/L: 261.09 / 257.04 . 52w H/L: 287.20 / 196.00 . ATR14 7.48

META - 549.90 (+0.75%)
Camarilla: S4 544.05 . S3 546.97 . S1 548.92 || R1 550.88 . R3 552.83 . R4 555.75
Classic: S3 533.49 . S2 538.36 . S1 544.13 . P 549.00 . R1 554.77 . R2 559.64 . R3 565.41
EMAs: 20 577.34 . 50 592.37 . 200 621.94 . POC 596.04
Prev H/L: 553.87 / 543.23 . 52w H/L: 790.80 / 520.26 . ATR14 20.26





BEARISH WARNINGS
Index level: MACD bearish cross (135.02 vs 136.93) with price below the 20 EMA. Declining sessions this week traded 1.27-1.28bn shares versus 1.14bn on today's advance - volume is confirming the sellers, not the buyers. VIX +7.5% on an up day.
Fully inverted EMA stacks (20 < 50 < 200) - the structural death-cross group:
. META 549.90 - 20: 577.34 / 50: 592.37 / 200: 621.94. RSI 38.7, MACD -14.11 and widening, 30.5% below 52w high, only 5.4% above the 52w low of 520.26. The most damaged large-cap in the index.
. COST 947.74 - 20: 949.93 / 50: 954.78 / 200: 962.62. Compressed within 1.5% but correctly ordered for a bear stack. MACD 0.43 vs 0.95.
. ISRG 378.81 - 20: 383.38 / 50: 391.65 / 200: 445.37. 37.3% below 52w high.
. SNPS 397.87 - 20: 405.20 / 50: 419.25 / 200: 450.13. 35.4% below 52w high, RSI 43.5.
. TMUS, NFLX, CEG are above their 20/50 but below their 200 EMA - improving, but still repairing damage.
Bearish MACD with weak RSI (the momentum-failure list): CDNS (RSI 37.2, MACD -9.97), AVGO (38.7, -4.64), TXN (39.0, -5.52), KLAC (39.8, -6.04), AMAT (43.1, -11.50), CSCO (42.4, -1.22), CRWD (42.8, MACD 3.18 rolling under signal 6.48).
Near 52-week lows / deepest drawdowns: INTU -48.0%, KLAC -40.1%, QCOM -38.2%, ISRG -37.3%, NFLX -37.2%, SNPS -35.4%, AMAT -33.4%, CEG -33.9% from their respective 52-week highs. Note INTU and NFLX are trading well technically despite the drawdown - the percentage alone is not the signal.
Overbought divergence risk: REGN RSI 76.4 at a new 52-week high and ABNB RSI 71.8 at 1.0% from its high. Both are strong, but both are extended - a failed breakout in either would be a high-quality short trigger.
Compression warnings (EMAs within 1% - imminent cross): LIN (20: 489.44, 200: 487.86, price 487.57), ORLY (20: 90.41, 50: 89.86, 200: 91.64, price 89.11), AAPL (50: 309.38, price 309.35 - sitting exactly on it), AVGO (200: 365.90, price 368.45), CRWD (50: 191.74, price 191.95).




EVENTS CALENDAR - WEEK AHEAD
Tuesday 25 August - US Consumer Confidence, 15:00 UK.
Wednesday 26 August - US GDP (second estimate), Durable Goods Orders, Personal Income & Spending with the PCE deflator, all 13:30 UK. The single heaviest data morning of the week.
Wednesday 26 August, after the close - NVIDIA (NVDA) Q2 FY27 earnings, call 22:00 UK. Consensus revenue is in the 93-95bn USD range. This is the week's dominant risk event for the index: NVDA is a top-three weight, it closed -0.97% today and is Mixed on trend (below its 20 EMA), and the entire semiconductor group is already the weakest sector in the 40. CrowdStrike (CRWD) also reports after the close.
Thursday 27 August - Marvell (MRVL) and Workday (WDAY) earnings. MRVL fell 5.57% today into the print; WDAY is one of the strongest charts in the index (RSI 66.9, above all EMAs) and therefore has the most to lose.
Thursday 27 August - Fed Chair Kevin Warsh speaks at the Jackson Hole symposium. With long-end Treasury volatility having driven this week's selling, and questions over central bank independence in the background, this is the macro event the index is positioned around.
Positioning note: Wednesday afternoon through Thursday morning carries PCE, NVDA and Jackson Hole inside 24 hours. Any swing position held through that window is an event bet, not a technical one. Size accordingly, or stand aside until Friday.




SUMMARY
The NAS100 closed a losing week (-2.45%) on a modest green day, leaving price boxed between the 20 EMA at 29,480 and the 50 EMA at 29,131. RSI is exactly neutral, the MACD has just crossed bearish, and breadth beneath the surface is materially worse than the index suggests - 47.5% of components are below both their 20 and 50 EMA. Semiconductors are the drag; software/cloud and consumer/internet are carrying the index.
Bull case: hold 29,118-29,142 (which is also the 50 EMA), reclaim 29,480, and 29,652 then 30,000 come back into range.
Bear case: a daily close below 29,118 breaks the two-day floor and the 50 EMA together, opening 29,023 and then 28,903.
Most likely: chop between 29,142 and 29,480 into Wednesday, then NVIDIA and PCE decide the direction.

Report: 21 August 2026 22:00 GMT . Not financial advice. Always DYOR. Capital at risk.

NASDAQ 100 DAILY TECHNICAL REPORT — Thursday 20 August 2026
Index data: Close 20 Aug 2026 | NAS100 (NDX): 29,213.16 | Change: -212.86 (-0.72%) | Range: 29,118.07 - 29,378.81 | Volume: 1.17bn
IMPORTANT DATA NOTE: The component scanner had NOT refreshed for the 20 Aug close at the time of this run. All 40 stock-level figures, EMAs, pivots and Camarilla levels below are Wednesday 19 August 2026 closing data. Index figures, EMAs, RSI, MACD and index pivots ARE 20 August. Treat stock levels as one session stale and re-validate against Thursday's actual close before acting.


MARKET OVERVIEW
NAS100 closed at 29,213.16, down 212.86 points (-0.72%), a third down day in four and the lowest close since 3 August. The index opened at 29,295.15, spent the entire session below the open, and finished 95 points off the low at 29,118.07 — a weak but not capitulatory close.

What drove it: Wednesday's Treasury-led relief rally reversed. The Treasury Department confirmed it will more than double repurchases of 10-, 20- and 30-year debt, but long yields turned back higher after hawkish-than-expected FOMC minutes, with the 30-year sitting near its highest level in almost twenty years. Retail bellwether Walmart fell 9% on a US comparable-sales miss (+2.6% vs +3.8% expected), reviving consumer-slowdown worries. Crude spiked — WTI +2.83% to $86.78 and Brent +2.58% to $93.98 — after President Trump threatened a "crushing economic operation" against Iran over the Strait of Hormuz. Bitcoin ripped +11.5% on the buyback news, dragging crypto-linked equities higher.

Peers: S&P 500 -0.87% to 7,641.16 · Dow -1.32% (-703.84) to 52,759.21 · Nasdaq Composite -1.00% to 26,067.17 · VIX ~16.02 (up from 14.89 on 18 Aug, high of the day 16.14).

Bias: Neutral-to-mildly-bearish over 1-3 sessions. Trend structure is intact but momentum has stalled and the index has now lost its 20 EMA. Rate-sensitivity is the dominant macro variable into Jackson Hole.


TREND STRUCTURE
EMA stack (daily, 20 Aug): EMA20 29,366.25 · EMA50 29,059.73 · EMA200 27,075.90
Close 29,213.16 — BELOW EMA20, ABOVE EMA50, ABOVE EMA200.

The stack is still bullishly ordered (20 > 50 > 200) but price has dropped through the 20 EMA and is now sitting in the 29,060-29,366 pocket between the 20 and 50. That is a classic pullback-in-uptrend location, not a trend break. The 200 EMA sits 2,137 points (7.3%) below — the primary uptrend has an enormous cushion.

Structure: The swing high of the last three months sits at 30,762. Since then the index has been range-bound between roughly 27,200 and 30,700, carving a broad rectangle. Within that range price has just made a lower high (30,195.72 on 17 Aug) while still holding a higher low (27,176 in late July). Compression, not distribution — yet.

Phase: Late Stage-2 consolidation. Bulls need a close back above 29,366 (EMA20) to re-assert; bears need 28,834 to open the 28,100 shelf.


MOMENTUM AND VOLUME
RSI(14): 48.76 — dead neutral, sitting fractionally below the 50 midline. No divergence: the 20 Aug price low (29,118) is above the 5 Aug low (27,763) and RSI is correspondingly higher, so the pullback is orderly. RSI has not been below 30 since late July nor above 70 since early June — this is a market with no conviction in either direction.

MACD: 160.41 · Signal: 137.40 · Histogram +23.00 — still a bullish configuration (MACD above signal, both above zero) but the histogram has been shrinking for three sessions. The cross remains valid; the impulse behind it does not. A histogram flip negative would likely coincide with a test of the 50 EMA.

Volume: 1.17bn — the lightest session of the last five and roughly 12% below the 20-day average. A down day on falling volume is a pullback signature rather than a distribution signature. That is the single most constructive datapoint in this report.


KEY INDEX LEVELS (for Friday 21 August)
Classic pivots from the 20 Aug session (H 29,378.81 · L 29,118.07 · C 29,213.16):
S3 28,834 · S2 28,976 · S1 29,095 || P 29,237 || R1 29,355 · R2 29,497 · R3 29,616

RESISTANCE
R1 29,355-29,366 — pivot R1 stacked directly on the 20 EMA. The single most important level on the chart. Reclaiming and holding it flips the short-term tape back bullish.
R2 29,497-29,500 — pivot R2 plus the 29,500 round number and the 19 Aug close area (29,426) just beneath.
R3 29,616-29,652 — pivot R3 plus the 19 Aug session high. A close above here voids the near-term bearish case entirely.

SUPPORT
S1 29,060-29,118 — pivot S1 (29,095) sandwiched with the 50 EMA (29,059.73) and today's low (29,118.07). Thick confluence. Expect a bounce attempt on first touch.
S2 28,976-29,000 — pivot S2 plus the 29,000 round number. Losing this on a closing basis is the first genuine warning.
S3 28,834 — pivot S3. Below it the 28,100-28,275 shelf from early August comes into play.


COMPONENT SIGNALS — ALL 40 (data: close Wed 19 Aug 2026)
Trend uses STRICT EMA classification: close compared against the 20, 50 and 200 EMA individually. Programmatic verification run across all 40 names: 0 mismatches.

AAPL 316.83 +2.19% · Bull (above all) · RSI 53.8 (Bullish) · MACD Bear · -8.1% from 52wH · Above POC
MSFT 484.31 +0.56% · Bull (above all) · RSI 63.5 (Strong) · MACD Bear · -12.5% from 52wH · Above POC
NVDA 217.56 -0.99% · Bull (above all) · RSI 54.2 (Bullish) · MACD Bull · -8.0% from 52wH · Above POC
AMZN 265.84 +2.46% · Bull (above all) · RSI 55.6 (Bullish) · MACD Bear · -7.4% from 52wH · Above POC
META 546.03 +0.43% · Bear (below all) · RSI 37.1 (Weak) · MACD Bear · -31.0% from 52wH · Below POC
GOOGL 344.72 +0.15% · Bear (below 20/50) · RSI 46.5 (Neutral) · MACD Bear · -15.6% from 52wH · Below POC
AVGO 362.48 -4.61% · Bear (below all) · RSI 35.3 (Weak) · MACD Bear · -26.8% from 52wH · Below POC
TSLA 351.12 +4.23% · Mixed (>20 <50 <200) · RSI 53.4 (Bullish) · MACD Bull · -29.6% from 52wH · Below POC
COST 956.99 -0.45% · Bull (above 20/50) · RSI 52.8 (Bullish) · MACD Bull · -12.7% from 52wH · Above POC
NFLX 80.22 +3.15% · Bull (above 20/50) · RSI 63.9 (Strong) · MACD Bull · -36.7% from 52wH · Above POC
AMD 466.42 -3.71% · Bear (below 20/50) · RSI 44.2 (Neutral) · MACD Bull · -20.2% from 52wH · Below POC
ADBE 272.47 +3.55% · Bull (above all) · RSI 61.4 (Strong) · MACD Bear · -26.5% from 52wH · Above POC
QCOM 161.91 +1.07% · Bear (below all) · RSI 44.5 (Neutral) · MACD Bull · -37.7% from 52wH · Below POC
TMUS 182.36 -0.21% · Mixed (>20 <50 <200) · RSI 51.9 (Bullish) · MACD Bull · -30.3% from 52wH · Above POC
LIN 481.13 +0.51% · Bear (below all) · RSI 39.8 (Weak) · MACD Bear · -12.2% from 52wH · Below POC
ISRG 397.72 +1.67% · Bull (above 20/50) · RSI 57.1 (Bullish) · MACD Bull · -34.1% from 52wH · Above POC
INTU 362.47 +3.44% · Bull (above 20/50) · RSI 66.9 (Strong) · MACD Bull · -49.6% from 52wH · Above POC
CSCO 110.55 -0.95% · Bear (below 20/50) · RSI 40.7 (Neutral) · MACD Bear · -15.2% from 52wH · Below POC
TXN 267.45 -1.76% · Bear (below 20/50) · RSI 40.7 (Neutral) · MACD Bear · -19.9% from 52wH · Below POC
AMAT 496.17 -3.53% · Bear (below 20/50) · RSI 43.8 (Neutral) · MACD Bear · -32.9% from 52wH · Below POC
BKNG 213 +2.28% · Bull (above all) · RSI 65.2 (Strong) · MACD Bear · -8.1% from 52wH · Above POC
PANW 359.76 -3.84% · Mixed (<20 >50 >200) · RSI 52.4 (Bullish) · MACD Bear · -9.8% from 52wH · Above POC
MU 937.11 -0.39% · Bull (above all) · RSI 51.8 (Bullish) · MACD Bull · -25.3% from 52wH · Below POC
LRCX 307.17 -6.33% · Bear (below 20/50) · RSI 46.2 (Neutral) · MACD Bull · -29.9% from 52wH · Below POC
KLAC 187.27 -3.86% · Bear (below 20/50) · RSI 41.3 (Neutral) · MACD Bull · -39.1% from 52wH · Below POC
ADI 373.26 -0.89% · Bear (below 20/50) · RSI 45 (Neutral) · MACD Bull · -16.3% from 52wH · Below POC
REGN 840.84 +3.78% · Bull (above all) · RSI 83 (Overbought) · MACD Bull · -0.5% from 52wH · Above POC
SNPS 401.24 -0.78% · Bear (below all) · RSI 45.2 (Neutral) · MACD Bull · -35.8% from 52wH · Below POC
CDNS 314.98 -0.49% · Bear (below all) · RSI 32.1 (Weak) · MACD Bear · -24.4% from 52wH · Below POC
MELI 1908.65 +7.28% · Bull (above all) · RSI 57.7 (Bullish) · MACD Bear · -25.1% from 52wH · Above POC
CRWD 201.63 -5.30% · Mixed (<20 >50 >200) · RSI 48.6 (Neutral) · MACD Bear · -11.4% from 52wH · Above POC
MAR 359.95 +0.73% · Bear (below 20/50) · RSI 47.9 (Neutral) · MACD Bull · -12.4% from 52wH · Below POC
ABNB 186.39 +1.71% · Bull (above all) · RSI 72.4 (Overbought) · MACD Bull · -1.5% from 52wH · Above POC
MRVL 237.27 +9.85% · Bull (above all) · RSI 57.5 (Bullish) · MACD Bull · -28.1% from 52wH · Below POC
DASH 220.22 +1.79% · Bull (above all) · RSI 67.9 (Strong) · MACD Bull · -22.9% from 52wH · Above POC
FTNT 152.85 -3.27% · Mixed (<20 >50 >200) · RSI 44.3 (Neutral) · MACD Bear · -11.2% from 52wH · Above POC
CEG 274.17 +2.75% · Bull (above 20/50) · RSI 54 (Bullish) · MACD Bull · -33.6% from 52wH · Above POC
WDAY 198.42 +4.08% · Bull (above all) · RSI 66.6 (Strong) · MACD Bull · -20.6% from 52wH · Above POC
PYPL 61.25 +1.36% · Bull (above all) · RSI 71.4 (Overbought) · MACD Bear · -22.7% from 52wH · Above POC
ORLY 91.2 +0.48% · Bull (above 20/50) · RSI 53 (Bullish) · MACD Bear · -16.1% from 52wH · Above POC

Breadth summary: Bull above all three EMAs: 14 · Bull above 20/50 (below 200): 6 · Bear below 20/50 (above 200): 9 · Bear below all three: 6 · Mixed: 5.
MACD bullish 21/40 · RSI at or above 50 in 23/40 · trading above 60-day VWAP POC 22/40. Breadth is almost exactly balanced — which is the honest description of this index right now.


SECTOR GROUPING
Mega-cap Tech
AAPL +2.19% · MSFT +0.56% · NVDA -0.99% · AMZN +2.46% · GOOGL +0.15% · META +0.43% · TSLA +4.23% · AVGO -4.61%
Split badly. AAPL, MSFT, NVDA and AMZN are all Bull-above-all with RSI in the 53-64 band and trading above their POC — the four largest weights are genuinely healthy. GOOGL is below its 20 and 50 EMAs, and META is the group's problem child: Bear-below-all, RSI 37.1, 31.0% below its 52-week high and only 5.0% above its 52-week low. AVGO has decoupled hard from the group.

Semiconductors
NVDA -0.99% · AVGO -4.61% · AMD -3.71% · QCOM +1.07% · TXN -1.76% · AMAT -3.53% · MU -0.39% · LRCX -6.33% · KLAC -3.86% · ADI -0.89% · MRVL +9.85%
The weakest group in the index by a distance. Nine of eleven names fell, and the semi-cap equipment complex was hit hardest — LRCX -6.33%, KLAC -3.86%, AMAT -3.53%, all three below their 20 and 50 EMAs and all three below POC. AVGO printed relative volume 1.77 on a 4.6% decline: that is institutional selling, not drift. MRVL's +9.85% on rv 1.81 is an isolated single-name event, not a group signal. Only NVDA (Bull above all) and MRVL hold constructive structure.

Software / Cloud
MSFT +0.56% · ADBE +3.55% · INTU +3.44% · PANW -3.84% · SNPS -0.78% · CDNS -0.49% · CRWD -5.30% · WDAY +4.08% · FTNT -3.27%
A clean two-way split along sub-sector lines. Application software is strong — WDAY (RSI 66.6, Bull above all), INTU (RSI 66.9), ADBE (RSI 61.4, Bull above all). Cybersecurity is being sold: CRWD -5.30% on rv 1.43, PANW -3.84%, FTNT -3.27%, all three now below their 20 EMA. EDA (SNPS, CDNS) is the weakest corner of the whole index — CDNS carries the lowest RSI of all 40 names at 32.1 and both are Bear-below-all.

Consumer / Internet
AMZN +2.46% · COST -0.45% · NFLX +3.15% · TMUS -0.21% · BKNG +2.28% · MELI +7.28% · MAR +0.73% · ABNB +1.71% · DASH +1.79% · PYPL +1.36% · ORLY +0.48%
The clear leadership group. Nine of eleven higher. Travel is exceptional: ABNB closed at its 52-week high (RSI 72.4), BKNG RSI 65.2 and Bull-above-all only 8.1% off its high. MELI +7.28% on rv 1.47 reclaimed its 200 EMA. DASH RSI 67.9, PYPL RSI 71.4. If money is rotating out of semis, this is where it is landing.

Healthcare / Biotech
ISRG +1.67% · REGN +3.78%
Small group, outsized signal. REGN closed at 840.84, just 0.5% off its 52-week high of 844.92, with RSI 83.0 — the strongest and most extended reading in the index. ISRG is Bull-above-20/50 and above POC. This mirrors the broader market's Thursday rotation into health care.

Industrial / Other
LIN +0.51% · CEG +2.75% · CSCO -0.95%
LIN is Bear-below-all with RSI 39.8 despite the small green print — a weak bounce inside a downtrend, and it traded rv 1.28. CEG rallied 2.75% and holds above its 20 and 50 EMAs but remains 33.6% below its high and below the 200. CSCO is below its 20 and 50.


TOP SWING SETUPS
All entries, stops and targets derived from Wednesday 19 August levels. Validate against Thursday's close before committing capital.

1. AVGO — SHORT (highest conviction)
Entry: 367.00 on a retest · Stop: 374.30 · T1: 355.42 · T2: 348.37 · T3: 339.12 · R:R: 1.59 to T1, 2.55 to T2
Confluence: Bear-below-all-three-EMAs. RSI 35.3. Fell 4.61% on relative volume 1.77 — the heaviest distribution print in the index. Trading 8.6% below its 60-day VWAP POC (398.75), so there is no volume shelf underneath until the 348-355 zone. Entry sits at Camarilla R3/R4 (366.96/371.45); stop above the 19 Aug high of 373.91. Targets are classic S1/S2/S3. ATR 16.43 gives the move room. Leader of the weakest sector — this is the cleanest short in the book.

2. WDAY — LONG
Entry: 198.40 · Stop: 191.60 · T1: 207.00 · T2: 214.32 · R:R: 1.27 to T1, 2.34 to T2
Confluence: Bull above all three EMAs with a wide, healthy stack (EMA20 175.66, EMA50 157.32, EMA200 163.50). RSI 66.6 — strong without being overbought. Closed +4.08% and near the session high (200.79 of a 189.46-200.79 range). Trading 34% above its POC of 147.92, so all recent volume is in profit and there is no overhead supply from the last 60 days. Stop sits just under pivot S1 (191.66); T1 is pivot R2 (207.55), T2 is pivot R3 (214.32). ATR 11.59.

3. MELI — LONG
Entry: 1,910.00 · Stop: 1,866.00 · T1: 1,960.88 · T2: 2,013.11 · R:R: 1.16 to T1, 2.34 to T2
Confluence: +7.28% on relative volume 1.47 — a genuine institutional day. The move reclaimed the 200 EMA at 1,871.33, flipping the name to Bull-above-all. Closed 1,908.65 in a 1,771-1,918 range, i.e. at the top of the day. RSI 57.7 leaves real headroom. Stop is placed just beneath the reclaimed 200 EMA — if that fails the thesis is void. Above POC (1,751.82). Targets are pivot R1 and R2. ATR 70.25 — size this one down.

4. AMZN — LONG
Entry: 265.84 · Stop: 260.70 · T1: 271.43 · T2: 276.45 · R:R: 1.09 to T1, 2.06 to T2
Confluence: The strongest mega-cap on a structural basis: Bull above all three EMAs, only 7.4% below its 52-week high (the best of the megacaps), above POC 249.40, RSI 55.6 with room. Closed +2.46% at 265.84 in a 258.58-266.40 range — a top-of-range close. Stop below pivot S1 (260.81) and the session low. ATR 7.86. Lower R:R than the others but a materially higher probability of working.

5. CDNS — SHORT
Entry: 316.00 · Stop: 322.00 · T1: 308.67 · T2: 305.34 · R:R: 1.22 to T1, 1.78 to T2
Confluence: The weakest RSI in the entire index at 32.1, and Bear-below-all-three-EMAs (EMA20 332.42, EMA50 344.79, EMA200 334.68 — note the bearish 20-under-50 ordering). Trading 13.5% below its POC of 364.24, meaning every buyer from the last 60 days is underwater and rallies will meet supply. Its sector twin SNPS is in the same condition, confirming it is an EDA-wide de-rating rather than a single-name issue. Narrow 312.01-318.50 range means a tight stop is viable. ATR 11.70.


INTRADAY SETUPS
A. NDX index — pivot bounce long (levels are FRESH, 20 Aug)
Direction: Long · Entry: 29,095-29,118 · Stop: 29,020 · T1: 29,237 · T2: 29,355 · R:R: 1.55 to T1, 3.10 to T2
Reasoning: Pivot S1 (29,095), the 50 EMA (29,060) and today's low (29,118) form a three-way confluence in a 58-point band. Today's close was 95 points off the low on below-average volume, which argues buyers are present down there. Stop goes beneath the whole cluster. First target is the central pivot, second is the R1/EMA20 wall.

B. NDX index — resistance rejection short (levels are FRESH, 20 Aug)
Direction: Short · Entry: 29,355-29,366 · Stop: 29,430 · T1: 29,237 · T2: 29,118 · R:R: 1.61 to T1, 3.23 to T2
Reasoning: Pivot R1 sits on top of the 20 EMA. Price lost this EMA today and a first retest from below is the textbook fade location. Invalidation is a 15-minute close above 29,430, which would put price back inside Wednesday's range and change the character of the pullback.

C. AAPL — Camarilla range fade (19 Aug levels)
Direction: Long at range low · Entry: 314.17 (Cam S3) · Stop: 311.51 (Cam S4) · T1: 317.72 (Cam R1) · T2: 319.49 (Cam R3) · R:R: 1.33 to T1, 2.00 to T2
Reasoning: Classic Camarilla mean-reversion. AAPL is Bull-above-all with RSI 53.8, relative volume 0.93 (no urgency in either direction) and sits 3.2% above POC 306.94. Low-relative-volume names in an established uptrend are the correct candidates for S3-to-R1 range trades. Cam S4 at 311.51 is the regime-change line — below it, stand aside.

D. NVDA — Camarilla breakout long (19 Aug levels)
Direction: Long · Entry: above 220.92 (Cam R4) · Stop: 217.00 (Cam S1) · T1: 225.17 (pivot R2) · T2: 227.48 (pivot R3) · R:R: 1.09 to T1, 1.67 to T2
Reasoning: Camarilla R4 breaks are trend-day triggers. NVDA is Bull-above-all (EMA20 215.39, EMA50 210.11, EMA200 194.95) and 4.5% above POC 208.11, so structure supports upside continuation. It also has the tightest Camarilla band of the megacaps (R4-S4 spread of just 6.72 against an ATR of 6.59), which is the compression signature that precedes expansion. Only take this on relative volume above 1.2 — it printed 0.82 on the 19th.

E. AVGO — Camarilla breakdown short (19 Aug levels)
Direction: Short · Entry: below 353.52 (Cam S4) · Stop: 361.00 (Cam S1) · T1: 348.37 (pivot S2) · T2: 339.12 (pivot S3) · R:R: 0.69 to T1, 1.93 to T2
Reasoning: The intraday expression of the swing thesis above. Cam S4 breakdowns work best when the daily structure is already broken and volume is confirming — both true here (Bear-below-all, rv 1.77). Skip T1 and run for T2; the R:R only justifies the trade on the full move.


KEY LEVELS DASHBOARD — TOP 5 BY WEIGHT (19 Aug data)
NVDA — 217.56
Cam: S4 214.20 · S3 215.88 · S1 217.00 || R1 218.12 · R3 219.24 · R4 220.92
Classic: S3 209.15 · S2 212.95 · S1 215.26 || P 219.06 || R1 221.37 · R2 225.17 · R3 227.48
EMA20 215.39 · EMA50 210.11 · EMA200 194.95 · POC 208.11 · Prev H/L 222.87/216.76 · 52w H/L 236.54/164.07

AAPL — 316.83
Cam: S4 311.51 · S3 314.17 · S1 315.94 || R1 317.72 · R3 319.49 · R4 322.15
Classic: S3 301.51 · S2 305.56 · S1 311.19 || P 315.24 || R1 320.87 · R2 324.92 · R3 330.55
EMA20 312.43 · EMA50 309.30 · EMA200 282.63 · POC 306.94 · Prev H/L 319.28/309.60 · 52w H/L 344.57/223.78

MSFT — 484.31
Cam: S4 478.84 · S3 481.58 · S1 483.40 || R1 485.22 · R3 487.04 · R4 489.78
Classic: S3 469.41 · S2 474.38 · S1 479.35 || P 484.32 || R1 489.29 · R2 494.26 · R3 499.23
EMA20 467.26 · EMA50 437.06 · EMA200 430.93 · POC 414.63 · Prev H/L 489.30/479.36 · 52w H/L 553.72/349.20

AMZN — 265.84
Cam: S4 261.54 · S3 263.69 · S1 265.12 || R1 266.56 · R3 267.99 · R4 270.14
Classic: S3 252.99 · S2 255.79 · S1 260.81 || P 263.61 || R1 268.63 · R2 271.43 · R3 276.45
EMA20 261.10 · EMA50 254.45 · EMA200 240.05 · POC 249.40 · Prev H/L 266.40/258.58 · 52w H/L 287.20/196.00

AVGO — 362.48
Cam: S4 353.52 · S3 358.00 · S1 360.99 || R1 363.97 · R3 366.96 · R4 371.45
Classic: S3 339.12 · S2 348.37 · S1 355.42 || P 364.67 || R1 371.72 · R2 380.97 · R3 388.02
EMA20 396.39 · EMA50 394.55 · EMA200 365.89 · POC 398.75 · Prev H/L 373.91/357.61 · 52w H/L 495.00/281.87


BEARISH WARNINGS
1. Bear-below-all-three-EMAs (6 names): META (RSI 37.1), AVGO (35.3), LIN (39., QCOM (44.5), SNPS (45.2), CDNS (32.1). Every one of these has EMA20 sitting below EMA50 — the death-cross configuration is already in place, not pending.

2. Semiconductor de-rating: 9 of 11 semis fell on the 19th, and the equipment names (LRCX -6.33%, KLAC -3.86%, AMAT -3.53%) are 29-39% below their 52-week highs. AVGO's 4.61% drop on relative volume 1.77 is the standout distribution print. Semis lead this index both up and down; this is the warning that matters most.

3. META at the edge: 546.03 is 31.0% below its 52-week high and just 5.0% above its 52-week low of 520.26. It is below all three EMAs and below POC 598.03. A break of 520 would be a new 52-week low in a top-10 index weight.

4. Overbought and extended: REGN RSI 83.0 (0.5% off its 52-week high), ABNB 72.4 (closed AT its 52-week high), PYPL 71.4. These are not sell signals in themselves, but they are poor entry locations and the first candidates to give back gains if the index tests 28,976.

5. Cybersecurity rolling over: CRWD -5.30% on rv 1.43, PANW -3.84%, FTNT -3.27%. All three lost their 20 EMA on the same session. A sector that had been a reliable bid is now a source of supply.

6. Index has lost the 20 EMA with MACD histogram narrowing three sessions running and VIX up roughly 7% to 16.02. None of this is severe in isolation; together it argues for reduced size rather than fresh aggression.

No RSI divergences detected— neither bearish at the highs nor bullish at the lows. No name in the 40 is currently oversold (RSI below 30).


EVENTS CALENDAR
Friday 21 August
US Flash PMIs (Manufacturing and Services), 14:45 UK. The only scheduled US data of note. With FOMC minutes having landed hawkish and 30-year yields near a two-decade high, a hot services print is the risk case for equities.

Week of 24 August
Wednesday 26 August — NVDA Q2 earnings, after the US close. The single largest scheduled catalyst for this index. Consensus is looking for roughly $92bn revenue and $2.06 EPS. Given the semiconductor weakness described above, the setup into the print is unusually asymmetric: the group is already being sold, so a miss or soft guide compounds an existing trend rather than starting a new one.
27-29 August — Jackson Hole Economic Symposium. Fed Chair Kevin Warsh delivers his first keynote in the role. Official topic: "Financial Innovation: Implications for Payments and Policy". Markets will be reading it for whether the hawkishness in the minutes is his own position.
Also expected late August: CRWD, WDAY, MRVL and ADI results. Confirm exact dates with your broker — several of these have moved in recent quarters.

Live geopolitical risk
Strait of Hormuz / Iran. President Trump has threatened a "crushing economic operation" against Iran; Tehran has dismissed it. WTI is at $86.78 and Brent at $93.98, both near one-month highs. An energy shock is the fastest route from the current orderly pullback to something disorderly. Gold $4,543.60, silver $66.86.


Bottom line: A tired but not broken tape. The index sits between its 20 and 50 EMAs with RSI at 48.8, breadth split almost exactly down the middle, and volume falling on down days — that is consolidation, not distribution. The tradeable edge this week is not directional at the index level, it is the rotation underneath it: short the semiconductor and EDA complex, long travel, consumer internet and application software. Levels to watch: 29,355-29,366 on the upside, 29,060-29,095 on the downside.

Report: 20 August 2026 22:05 GMT. Component data: close Wednesday 19 August 2026. Index data: close Thursday 20 August 2026. Not financial advice. Always DYOR. Capital at risk.

NASDAQ 100 - Daily Technical Report - Wednesday 19 August 2026
Data: Close 19 Aug 2026 | NAS100: 29,426.02 | Change: -64.94 (-0.22%) | Range: 29,288.75-29,652.30



MARKET OVERVIEW
NAS100 closed at 29,426.02, down 64.94 points (-0.22%), after opening at 29,580.85 and printing a session high of 29,652.30. The index sold off through the afternoon and settled at 29,426.02, only 137 points off the low of 29,288.75 - a weak close in the lower quarter of the range. Volume came in at 1.27bn shares against a 300-day average of 1.31bn, so the decline lacked conviction.

This was the third consecutive lower close. From the 30,762.20 swing high the index is now -4.34% lower, and it has given back 658 points in three sessions.

Drivers: The FOMC minutes released this afternoon were the session pivot - the index was green into the release and closed on the lows afterwards, with traders repositioning ahead of Chair Warsh at Jackson Hole. Underneath the surface the tape was split: chip-equipment and cyber names were hit hard while consumer internet, biotech and mega-cap software held up. A rally in the 30-year, taking long-end yields down roughly 10bp to 5.18%, gave some relief but was not enough to stop the fade.

Breadth: 23 advancers versus 17 decliners across the 40 components tracked, average component move +0.45%. Positive breadth with a negative index tells you the damage is concentrated in the heavyweights - AVGO alone fell 4.61%.

VIX: 15.28, down 3.54% and sitting near the 2026 low. Options are not pricing stress, which cuts both ways: cheap hedges, but also complacent positioning into a Jackson Hole week.

Bias: Cautious / neutral-to-bearish short term while price is below the 20 EMA, but the medium-term uptrend is intact above the 50 and 200 EMA. This is a pullback within an uptrend, not a trend change - yet.



TREND STRUCTURE
EMA stack (daily): Price 29,426.02 | EMA20 29,600.41 | EMA50 29,120.68 | EMA200 27,054.42

The stack is still correctly ordered for an uptrend - EMA20 above EMA50 above EMA200 - but price has now dropped below the 20 EMA for the first time in this leg. That puts NAS100 in a Mixed classification: below the 20, above the 50 and 200.

Structure: Higher highs and higher lows on the weekly remain intact. On the daily the index has broken the short-term rising channel that carried it from the June low. The 29,120 area (EMA50) is the line that matters - it has not been tested since that low, and it coincides almost exactly with the S2 pivot at 29,092.

Phase: Late-stage advance entering a corrective/consolidation phase. Distribution signals are present in semiconductors but absent in the broader index.



MOMENTUM INDICATORS
RSI(14): 51.39. Sitting almost exactly on the midline. It has fallen from the high-60s over three sessions but has not broken 50 decisively. No bullish or bearish divergence is present at the index level - price and RSI made their highs together at 30,762. A sustained close with RSI under 45 would confirm the correction has legs.

MACD: MACD line 200.22, signal 131.65, histogram +68.56. Still positive and still above signal, so the medium-term momentum reading is bullish - but the histogram is contracting from its peak. A bearish cross is likely within 2-4 sessions if 29,426 is not reclaimed quickly. Treat the current positive reading as decaying, not confirming.

Volume: 1.27bn against a 1.31bn average. Below-average volume on a down day is constructive - this looks like buyers stepping aside rather than sellers stepping in. Compare with the component picture, where AVGO (rv 1.77), MRVL (1.81), ADI (1.48), MELI (1.47) and CRWD (1.43) all traded heavy. Volume is rotating, not exiting.



KEY INDEX LEVELS
Resistance
R1 29,622.63 - classic pivot R1, and today's session high 29,652.30 sits just above. First real barrier.
R2 29,819.23 - reclaim level. Above here the pullback is over.
R3 29,986.17 - confluence with the psychological 30,000 handle and the 29,995 close from 17 Aug.

Support
S1 29,259.09 - classic pivot S1, just below today's low of 29,288.75. The first line of defence.
S2 29,092.15 - the key one. Sits on top of the EMA50 at 29,120.68. Losing this flips the medium-term picture.
S3 28,895.54 - measured downside if S2 fails.

Classic pivots: S2 29,092.15 . S1 29,259.09 . P 29,455.69 . R1 29,622.63 . R2 29,819.23

Round numbers: 29,500 (immediate overhead, and just above the pivot) . 29,000 (major psychological floor, sits between S2 and S3) . 30,000 (the level to reclaim).

Moving averages as levels: EMA20 29,600.41 (now resistance) . EMA50 29,120.68 (primary support) . EMA200 27,054.42 (structural floor, 8.1% below).



COMPONENT SIGNALS - ALL 40
Format: Ticker . Close . Change . Trend (strict EMA) . RSI . MACD . percent from 52w high . POC

MRVL 237.27 . +9.85% . Bull (above all) . RSI 57.5 Bullish . MACD Bull . -28.1% off high . below POC
MELI 1,908.65 . +7.28% . Bull (above all) . RSI 57.7 Bullish . MACD Bear . -25.1% off high . above POC
TSLA 351.12 . +4.23% . Mixed (>20 <50 <200) . RSI 53.4 Bullish . MACD Bull . -29.6% off high . below POC
WDAY 198.42 . +4.08% . Bull (above all) . RSI 66.6 Strong . MACD Bull . -20.6% off high . above POC
REGN 840.84 . +3.78% . Bull (above all) . RSI 83.0 Overbought . MACD Bull . -0.5% off high . above POC
ADBE 272.47 . +3.55% . Bull (above all) . RSI 61.4 Strong . MACD Bear . -26.5% off high . above POC
INTU 362.47 . +3.44% . Bull (above 20/50) . RSI 66.9 Strong . MACD Bull . -49.6% off high . above POC
NFLX 80.22 . +3.15% . Bull (above 20/50) . RSI 63.9 Strong . MACD Bull . -36.7% off high . above POC
CEG 274.17 . +2.75% . Bull (above 20/50) . RSI 54.0 Bullish . MACD Bull . -33.6% off high . above POC
AMZN 265.84 . +2.46% . Bull (above all) . RSI 55.6 Bullish . MACD Bear . -7.4% off high . above POC
BKNG 213.00 . +2.28% . Bull (above all) . RSI 65.2 Strong . MACD Bear . -8.1% off high . above POC
AAPL 316.83 . +2.19% . Bull (above all) . RSI 53.8 Bullish . MACD Bear . -8.1% off high . above POC
DASH 220.22 . +1.79% . Bull (above all) . RSI 67.9 Strong . MACD Bull . -22.9% off high . above POC
ABNB 186.39 . +1.71% . Bull (above all) . RSI 72.4 Overbought . MACD Bull . -1.5% off high . above POC
ISRG 397.72 . +1.67% . Bull (above 20/50) . RSI 57.1 Bullish . MACD Bull . -34.1% off high . above POC
PYPL 61.25 . +1.36% . Bull (above all) . RSI 71.4 Overbought . MACD Bear . -22.7% off high . above POC
QCOM 161.91 . +1.07% . Bear (below all) . RSI 44.5 Neutral . MACD Bull . -37.7% off high . below POC
MAR 359.95 . +0.73% . Bear (below 20/50) . RSI 47.9 Neutral . MACD Bull . -12.4% off high . below POC
MSFT 484.31 . +0.56% . Bull (above all) . RSI 63.5 Strong . MACD Bear . -12.5% off high . above POC
LIN 481.13 . +0.51% . Bear (below all) . RSI 39.8 Weak . MACD Bear . -12.2% off high . below POC
ORLY 91.20 . +0.48% . Bull (above 20/50) . RSI 53.0 Bullish . MACD Bear . -16.1% off high . above POC
META 546.03 . +0.43% . Bear (below all) . RSI 37.1 Weak . MACD Bear . -31.0% off high . below POC
GOOGL 344.72 . +0.15% . Bear (below 20/50) . RSI 46.5 Neutral . MACD Bear . -15.6% off high . below POC
TMUS 182.36 . -0.21% . Mixed (>20 <50 <200) . RSI 51.9 Bullish . MACD Bull . -30.3% off high . above POC
MU 937.11 . -0.39% . Bull (above all) . RSI 51.8 Bullish . MACD Bull . -25.3% off high . below POC
COST 956.99 . -0.45% . Bull (above 20/50) . RSI 52.8 Bullish . MACD Bull . -12.7% off high . above POC
CDNS 314.98 . -0.49% . Bear (below all) . RSI 32.1 Weak . MACD Bear . -24.4% off high . below POC
SNPS 401.24 . -0.78% . Bear (below all) . RSI 45.2 Neutral . MACD Bull . -35.8% off high . below POC
ADI 373.26 . -0.89% . Bear (below 20/50) . RSI 45.0 Neutral . MACD Bull . -16.3% off high . below POC
CSCO 110.55 . -0.95% . Bear (below 20/50) . RSI 40.7 Neutral . MACD Bear . -15.2% off high . below POC
NVDA 217.56 . -0.99% . Bull (above all) . RSI 54.2 Bullish . MACD Bull . -8.0% off high . above POC
TXN 267.45 . -1.76% . Bear (below 20/50) . RSI 40.7 Neutral . MACD Bear . -19.9% off high . below POC
FTNT 152.85 . -3.27% . Mixed (<20 >50 >200) . RSI 44.3 Neutral . MACD Bear . -11.2% off high . above POC
AMAT 496.17 . -3.53% . Bear (below 20/50) . RSI 43.8 Neutral . MACD Bear . -32.9% off high . below POC
AMD 466.42 . -3.71% . Bear (below 20/50) . RSI 44.2 Neutral . MACD Bull . -20.2% off high . below POC
PANW 359.76 . -3.84% . Mixed (<20 >50 >200) . RSI 52.4 Bullish . MACD Bear . -9.8% off high . above POC
KLAC 187.27 . -3.86% . Bear (below 20/50) . RSI 41.3 Neutral . MACD Bull . -39.1% off high . below POC
AVGO 362.48 . -4.61% . Bear (below all) . RSI 35.3 Weak . MACD Bear . -26.8% off high . below POC
CRWD 201.63 . -5.30% . Mixed (<20 >50 >200) . RSI 48.6 Neutral . MACD Bear . -11.4% off high . above POC
LRCX 307.17 . -6.33% . Bear (below 20/50) . RSI 46.2 Neutral . MACD Bull . -29.9% off high . below POC

Totals: Bull 20 . Bear 15 . Mixed 5 . MACD bullish 21 of 40 . Advancers 23, decliners 17.



SECTOR BREAKDOWN
Mega-cap Tech - average +0.84%, 7 of 9 higher, average RSI 51.5
AAPL, MSFT, AMZN and NVDA all hold Bull (above all) status. TSLA led with +4.23% but remains Mixed and below both the 50 and 200 EMA - a bounce, not a trend. The two problems are AVGO (-4.61%, below all EMAs, RSI 35.3) and META, which is the single weakest large-cap in the index: EMA20 583.84 under EMA50 596.08 under EMA200 623.43, a fully inverted stack, and only 5.0% above its 52-week low. GOOGL is quietly deteriorating - below the 20 and 50 EMA, below POC, RSI 46.5.

Semiconductors - average -1.06%, only 2 of 9 higher, average RSI 46.1
The clear laggard group and the source of today's index damage. LRCX -6.33%, KLAC -3.86%, AMD -3.71%, AMAT -3.53%, AVGO -4.61%. Six of the nine sit below both their 20 and 50 EMA and eight of nine are trading below their 60-day VWAP POC. MRVL was the standout exception at +9.85% on the Google share-purchase agreement (up to $12.2bn) and the Bravera SC6 / Structera X / Photonic Fabric AI-memory launches - but note it still closed 20 points below its own POC at 257.63, so even that move has overhead supply. MU held up relatively well at -0.39% and remains Bull (above all).

Software and Cloud - average -0.40%, 3 of 9 higher, average RSI 50.9
Bifurcated. WDAY (+4.08%), ADBE (+3.55%) and INTU (+3.44%) were strong; CRWD (-5.30%, rv 1.43) and PANW (-3.84%) were dumped ahead of their reporting windows. CDNS is the weakest name in the entire index on momentum - RSI 32.1, below all three EMAs, EMA20 (332.42) beneath both the EMA50 (344.79) and EMA200 (334.68). SNPS is within 9.6% of its 52-week low.

Consumer and Internet - average +1.90%, 7 of 8 higher, average RSI 61.0
The strongest sector on the day and the reason breadth stayed positive. MELI +7.28% on 1.47x volume, BKNG +2.28%, DASH +1.79%, ABNB +1.71% to a new 52-week high at 189.20. PYPL RSI 71.4 and ABNB RSI 72.4 are both overbought. COST was the only decliner at -0.45% and is the odd one out - it sits above its 20 and 50 EMA but below the 200 at 963.06.

Healthcare and Biotech - average +2.72%, 2 of 2 higher, average RSI 70.0
REGN +3.78% and closed at 840.84, printing a new 52-week high of 844.92. RSI 83.0 is deeply overbought - the trend is powerful but the entry is not here. ISRG +1.67%, Bull (above 20/50) but still 34.1% off its high and below the 200 EMA at 446.76.

Industrial and Other - average +1.02%, 2 of 3 higher, average RSI 48.6
CEG +2.75% continues its recovery, above the 20 and 50 EMA but 33.6% off its high. LIN is the concern: +0.51% on the day but RSI 39.8, below all three EMAs, and trading on 1.28x relative volume. TMUS -0.21%, Mixed, above the 20 but below the 50 and 200.



TOP SWING SETUPS
1. AVGO - SHORT on retest (highest conviction)
Entry: 371.70 . Stop: 382.00 . T1: 348.37 . T2: 339.12 . R:R: 2.3 to T1, 3.2 to T2
The cleanest bearish structure in the index. Closed 362.48, down 4.61% on 1.77x relative volume - that is genuine distribution, not drift. Bear (below all): price is under the EMA20 396.39, EMA50 394.55 and now the EMA200 365.89. RSI 35.3 and falling. Trading 36 points beneath its POC at 398.75, so every rally into the mid-390s meets trapped supply. Sell the retest into R1 371.72 / today's high 373.91, stop above R2 380.97. Targets are the S2 and S3 pivots at 348.37 and 339.12. Invalidated on a daily close back above 382.

2. MRVL - LONG on pullback
Entry: 228.40 . Stop: 209.00 . T1: 257.63 . T2: 263.20 . R:R: 1.5 to T1, 1.8 to T2
Best momentum in the index: +9.85% on 1.81x volume, Bull (above all) with the EMA20 (216.23) and EMA50 (216.09) now stacked tightly beneath price and the EMA200 far below at 162.95. The catalyst is real - a filing disclosing Google can buy up to 58.97m shares at $206.58 tied to procurement targets through FY2033, plus the AI-memory product launches. Do not chase the 245.49 high; wait for the S1 pivot at 228.42 to be tested. First target is the POC at 257.63, which is the genuine overhead barrier. Risk: earnings 27 August - close or halve before the print, and the ATR of 18.38 means position size needs to be small.

3. META - SHORT on bounce
Entry: 562.50 . Stop: 573.00 . T1: 537.27 . T2: 520.26 . R:R: 2.4 to T1, 4.1 to T2
Fully inverted EMA stack - 20 (583.84) below 50 (596.08) below 200 (623.43) - which is the textbook confirmed downtrend. RSI 37.1, MACD -11.90 versus signal -7.69 and widening, and price is 52 points below the POC at 598.03. Down 31.0% from the 52-week high and only 25.77 points above the 52-week low at 520.26. Sell strength into the R2 pivot at 562.59 rather than chasing the low. T2 is the 52-week low itself, which is where I would take the bulk off.

4. REGN - LONG on pullback (momentum leader)
Entry: 822.50 . Stop: 799.00 . T1: 863.25 . T2: 881.59 . R:R: 1.7 to T1, 2.5 to T2
Closed 840.84, +3.78%, at a new 52-week high of 844.92. Bull (above all) with EMA20 767.94, EMA50 720.51, EMA200 700.76 - a wide, healthy stack - and price is 175 points above the POC at 665.40, meaning zero overhead supply. The only problem is RSI 83.0, which is why this is a pullback entry and not a breakout entry. Buy the S1 pivot at 822.51, stop below the last consolidation shelf. If it never pulls back, let it go - chasing RSI 83 into R2 is how you buy the high.

5. MSFT - LONG on pullback
Entry: 474.40 . Stop: 462.00 . T1: 494.26 . T2: 510.00 . R:R: 1.6 to T1, 2.9 to T2
Bull (above all) with a wide stack - EMA20 467.26, EMA50 437.06, EMA200 430.93 - and price 70 points clear of the POC at 414.63. RSI 63.5 is strong without being stretched. The caution flag is the MACD, which has rolled to bearish (23.05 versus signal 24.76), and relative volume of just 0.53 shows nobody is defending it. That combination argues for waiting: buy the S2 pivot at 474.38, which is 7 points above the EMA20 and gives a stop with room. Not a chase above 489.



INTRADAY SETUPS
1. NVDA - Camarilla range fade, LONG
Entry: 215.90 . Stop: 214.20 . T1: 218.12 . T2: 219.06 . R:R: 1.3 to T1
The 217.56 close sits inside the Camarilla S1/R1 band (217.00 to 218.12), which is the classic range-day signature - fade the extremes. The reason this one has an edge is confluence: Cam S3 at 215.88 sits directly on the EMA20 at 215.39 and just above the S1 pivot at 215.26. Three independent levels within 0.6 points. Buy that pocket, stop below Cam S4 214.20, first target Cam R1 and then the daily pivot at 219.06. Note NVDA reports Q2 FY27 on 26 August - intraday only, no overnight carry into that week without a plan.

2. AAPL - classic pivot bounce, LONG
Entry: 315.30 . Stop: 311.00 . T1: 320.87 . T2: 324.92 . R:R: 1.3 to T1, 2.3 to T2
Closed 316.83, +2.19%, Bull (above all) and 10 points above the POC at 306.94. The daily pivot at 315.24 and Cam S1 at 315.94 are stacked right beneath the close, giving a tight, well-defined entry shelf. Stop goes under the S1 pivot at 311.19 and the EMA20 at 312.43 - if both fail the long thesis is wrong. Targets R1 320.87 then R2 324.92. Long bias only while price holds 315.

3. TSLA - Camarilla range fade, LONG
Entry: 346.70 . Stop: 342.40 . T1: 352.58 . T2: 356.59 . R:R: 1.3 to T1, 2.3 to T2
Best confluence of the intraday book: Cam S3 at 346.74 and the daily pivot at 346.15 are effectively the same level, with the EMA20 at 339.36 underneath as a secondary floor. Closed 351.12 after a 4.23% rally inside the Cam S1/R1 band. Stop below Cam S4 342.36. Context caution: TSLA is still Mixed - above the 20 EMA but below the EMA50 359.16 and EMA200 383.44, and 27 points below the POC at 378.33. This is an intraday long inside a broader downtrend. Do not hold it overnight expecting 372.

4. GOOGL - Camarilla range fade, SHORT
Entry: 346.40 . Stop: 348.10 . T1: 344.16 . T2: 343.05 . R:R: 1.3 to T1, 2.0 to T2
A very compressed Camarilla band (S1 344.16 to R1 345.28) around a 344.72 close - the tightest in the group, which means whichever side breaks first tends to run. I favour the short because the daily structure is deteriorating: Bear (below 20/50) with the EMA20 at 348.73 and EMA50 at 351.75 both overhead, RSI 46.5, MACD negative, and price 10 points under the POC at 354.96. Sell Cam R3 346.39, stop above Cam R4 348.06, which also sits under the EMA20 - a clean invalidation. Tight stop, so size accordingly.



KEY LEVELS DASHBOARD
NVDA - 217.56 (-0.99%)
Camarilla: S4 214.20 . S3 215.88 . S1 217.00 || R1 218.12 . R3 219.24 . R4 220.92
Classic: S3 209.15 . S2 212.95 . S1 215.26 . P 219.06 . R1 221.37 . R2 225.17 . R3 227.48
EMAs: 20 215.39 . 50 210.11 . 200 194.95 . POC: 208.11
Prev H/L: 222.87 / 216.76 . 52w H/L: 236.54 / 164.07 . ATR14: 6.59

AAPL - 316.83 (+2.19%)
Camarilla: S4 311.51 . S3 314.17 . S1 315.94 || R1 317.72 . R3 319.49 . R4 322.15
Classic: S3 301.51 . S2 305.56 . S1 311.19 . P 315.24 . R1 320.87 . R2 324.92 . R3 330.55
EMAs: 20 312.43 . 50 309.30 . 200 282.63 . POC: 306.94
Prev H/L: 319.28 / 309.60 . 52w H/L: 344.57 / 223.78 . ATR14: 7.67

MSFT - 484.31 (+0.56%)
Camarilla: S4 478.84 . S3 481.58 . S1 483.40 || R1 485.22 . R3 487.04 . R4 489.78
Classic: S3 469.41 . S2 474.38 . S1 479.35 . P 484.32 . R1 489.29 . R2 494.26 . R3 499.23
EMAs: 20 467.26 . 50 437.06 . 200 430.93 . POC: 414.63
Prev H/L: 489.30 / 479.36 . 52w H/L: 553.72 / 349.20 . ATR14: 13.28

AMZN - 265.84 (+2.46%)
Camarilla: S4 261.54 . S3 263.69 . S1 265.12 || R1 266.56 . R3 267.99 . R4 270.14
Classic: S3 252.99 . S2 255.79 . S1 260.81 . P 263.61 . R1 268.63 . R2 271.43 . R3 276.45
EMAs: 20 261.10 . 50 254.45 . 200 240.05 . POC: 249.40
Prev H/L: 266.40 / 258.58 . 52w H/L: 287.20 / 196.00 . ATR14: 7.86

AVGO - 362.48 (-4.61%)
Camarilla: S4 353.52 . S3 358.00 . S1 360.99 || R1 363.97 . R3 366.96 . R4 371.45
Classic: S3 339.12 . S2 348.37 . S1 355.42 . P 364.67 . R1 371.72 . R2 380.97 . R3 388.02
EMAs: 20 396.39 . 50 394.55 . 200 365.89 . POC: 398.75
Prev H/L: 373.91 / 357.61 . 52w H/L: 495.00 / 281.87 . ATR14: 16.43



BEARISH WARNINGS
1. Semiconductor distribution. The group averaged -1.06% with only 2 of 9 higher. LRCX -6.33%, AVGO -4.61%, KLAC -3.86%, AMD -3.71%, AMAT -3.53%. AVGO in particular fell on 1.77x relative volume, which is the signature of institutional selling rather than a drift lower. Eight of the nine semis are trading below their 60-day VWAP POC.

2. META - confirmed downtrend, near 52-week low. EMA20 583.84 below EMA50 596.08 below EMA200 623.43. RSI 37.1. Down 31.0% from its high and only 5.0% above the 52-week low of 520.26. There is no technical support case here until it reclaims the 20 EMA.

3. CDNS - weakest momentum in the index. RSI 32.1, approaching oversold but with no divergence to support a bounce. Below all three EMAs, and the EMA20 (332.42) has dropped beneath both the EMA50 (344.79) and the EMA200 (334.68). Trading 49 points under its POC at 364.24.

4. AVGO death cross forming. The EMA20 at 396.39 has crossed below the EMA50 at 394.55, and today's close at 362.48 has now broken the EMA200 at 365.89. Losing a 200 EMA on 1.77x volume is a serious signal in a mega-cap.

5. Overbought extremes. REGN RSI 83.0 at a 52-week high, ABNB RSI 72.4 also at a 52-week high, PYPL RSI 71.4. All three are extended. PYPL additionally has a bearish MACD (2.56 versus signal 2.77) while at RSI 71 - the classic negative-momentum-at-the-high combination. Reduce, do not add.

6. Hidden weakness in the winners. MELI rose 7.28% but its MACD (12.28) is still well below signal (19.50) - the rally has not yet repaired momentum. ADBE closed +3.55% with MACD 9.51 versus signal 9.56, a marginal bearish cross. Both moves need a second day of follow-through to be trusted.

7. LIN. Nominally +0.51% but below all three EMAs with RSI 39.8 on 1.28x relative volume - being sold into strength.

8. Index-level warning. NAS100 has closed below its 20 EMA for the first time in this advance, three lower closes in a row, and the MACD histogram is contracting from its peak. Watch 29,092 (S2 / EMA50 confluence). A daily close beneath it changes the medium-term structure.



EVENTS CALENDAR
Thursday 20 August
Initial jobless claims - consensus around 255k versus 250k prior. Walmart earnings before the open, which sets the tone for the consumer read-through into COST, ORLY and the retail-adjacent names.

Friday 21 August
Flash US PMIs (manufacturing and services). The last significant data point before Jackson Hole.

The week ahead
Jackson Hole - Chair Warsh speaks. Today's FOMC minutes showed three dissenting officials pushing toward a hike, so the framing at Jackson Hole is the single biggest macro risk on the horizon.

Component earnings
NVDA - Wednesday 26 August, after the close. Q2 FY27, consensus revenue $93-95bn, roughly +67% year on year. This is the index event, not just a stock event.
MRVL - Thursday 27 August. Directly relevant to the swing long above; the ATR of 18.38 means an unhedged position through the print is a coin toss.
CRWD and PANW both have reporting windows approaching, which explains today's pre-earnings de-risking (-5.30% and -3.84%).



Report: 19 August 2026 22:00 GMT . Not financial advice. Always DYOR. Capital at risk.