US100 on Shaky Ground – What Traders Should Watch Today

Zones in Focus
The marked zones on the chart are not fixed buy or sell levels but decision areas where price is likely to accelerate and create short-term opportunities.

• Red zones (potential supply): If price trades into these areas and shows rejection, it can set up short positions. A clean break above, however, flips the zone into potential support, opening the door for continuation longs.
  
• Green zones (potential demand): If price reaches these areas and bounces sharply, it can provide long setups. A decisive break lower, by contrast, turns the zone into resistance, creating opportunities for continuation shorts on a retest.
  

The framework is built around letting price action on the 5-minute chart confirm the reaction: rejections favor counter-trades, while breakouts and retests favor continuation in the direction of the move.

The Market Is Sending Mixed Signals
The latest JOLTS report showed U.S. job openings falling to 7.18 million in July, below expectations of 7.38 million and down from 7.36 million in June. That makes it the lowest reading in ten months – and for the first time since the COVID era, there are more unemployed workers than available jobs.

For equities, this kind of data is a double-edged sword. On one hand, fewer openings cool the labor market and strengthen the case for earlier Fed rate cuts. On the other, if the trend deepens, it signals weaker economic momentum and risks feeding through to lower earnings growth.

Mood Check: Nasdaq Between Hope and Fear
The mood in the Nasdaq-100 is cautiously optimistic, yet undeniably fragile.

• The bright side: Big Tech carried the index higher yesterday, with Alphabet rallying 9% and Apple 3–4%. That added roughly 1% to the Nasdaq-100 and reminded us how concentrated the index still is – a single positive headline can shift sentiment fast. At the same time, falling yields and softer labor data fuel hopes that the Fed may soon move toward cuts, a clear tailwind for growth stocks.
  
• The risk side: Macro signals tell a different story. The ISM confirmed that manufacturing remains in contraction, and JOLTS made clear that the labor market is cooling. Inflation pressure may be easing, but so is economic momentum. That keeps investors defensive, even as the index rallies.
  

The Bigger Picture
Taken together, US100 sentiment is leaning positive in the near term, but the foundation is shaky. Gains are being driven more by mega-cap strength and expectations of rate relief than by broad economic resilience. Until the macro backdrop turns more convincingly, every rally remains vulnerable.