The Nasdaq100 reached the long term Monthly Trend Line @5700 area which should act as strong resistance.
Based on my belief of a collapse of the Government Bond market (interest rates up, sell bonds), I think this resistance is only here to be broken to the upside as the flight to private assets will intensify. So I will keep on buying the (summer) dip.
Contrarian (short term) traders could play a speculative short position in anticipation of a short term High to be formed at resistance.
For the short term though, the Monthly chart is not the best timeframe to base a short term trade, so I would advice you to take a look at the Daily or 4h charts for weakness, or, for example, this analysis of the S&P500 vs VIX.
Enjoy your weekend!
Nasdaq100 Monthly Chart
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