Technical analysts and wave traders on X are focusing today on key support zones across major indices and stocks, underscoring the importance of confirmation before taking positions.

Nasdaq 100 Support

The conversation highlights the Nasdaq 100 ($QQQ) support zone between 26,650 and 27,720. Traders are waiting for confirmation via higher lows before deploying capital. A break below 27,200 could shift the bias bearish.

Semiconductors and NVDA

In the semiconductor sector, support near $490–$498 (July low plus 21-day MA) is considered pivotal, with a deeper zone at $455–$477 if it fails. NVDA around $179 and AAPL in topping zones are also under scrutiny.

Fibonacci and Elliott Wave Structures

Analysts point to the 0.5 and 0.618 Fibonacci retracement levels as potential reversal points when support holds. Double or triple bottoms, higher lows, and wave reversal setups are attracting attention as fear peaks.

ORCL and SNDK

$ORCL holding the $118.86 support could open the door to targets between $232 and $297. $SNDK sits in a major wave reversal zone with daily MA200 confluence, further confirmation is required before acting.

Bottom Line

Today's technical chatter revolves around waiting for confirmation at key levels while maintaining caution until structures clarify.