There is a specific data point circulating across trading desks over the past few days that deserves serious attention. According to The Kobeissi Letter, the Nasdaq-100 has just crossed the mark of 100 consecutive trading days without hitting a new all-time high<\/strong>, its longest streak below an ATH since 2023. For many, this is a sign of weakness. However, for those who analyze the markets with a bit of historical perspective, it is potentially quite the opposite.<\/p>\n\n\n\n What makes this setup particularly interesting is that the index has not collapsed. It is consolidating less than 10% below its absolute peak<\/strong>, which is a crucial nuance. A market that corrects by 10% following a major rally and holds those levels in the face of persistent selling pressure is rarely signaling capitulation. More often than not, it indicates a redistribution phase, where weak hands sell and strong hands accumulate.<\/p>\n\n\n\n