NAS100 Future

Profit-taking hits NASDAQ100: Uptrend still intact?

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The NASDAQ100 extended its losing streak as investors keep taking profits in tech stocks

Advanced Micro Devices and Broadcom each lost around 1%. Intel slid over 7%. Apple, Amazon, Alphabet, and Tesla also posted losses. Market volume typically falls in late August, which can lead to wilder swings.

The index has now broken below 23,600 and is trading near 23,300, marking its steepest pullback since late June. The short-term trend that began in mid-July is still possibly intact, with higher highs and higher lows. However, volume on down days suggests sellers are active, which may reinforce near-term downside pressure.

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