Nasdaq corrects lower in trading today, but backs into support target area.

The Nasdaq pulled back modestly after a strong three-day rally of nearly 6.7%, but the decline is described as a normal correction rather than a meaningful reversal. The index gapped above its 200-hour and 100-hour moving averages on Monday, which shifted the short-term technical bias back to buyers. As long as those moving averages hold as support, upside momentum remains intact. A drop back below them would be needed for sellers to regain control. On the upside, the next resistance target is 26,826.97, and a break above that level could open a path toward the all-time high at 27,190.21. Overall, the article frames current price action as bullish consolidation within an uptrend, with near-term support holding key importance for market direction.