I guess I figured what the NASDAQ 100 is doing

For some days I tried to figure out what the Nasdaq 100 was doing.. I looked at the monthly, weekly and daily charts and see the outcome. I believe the uncertainty of the last days as strongly related to a strong resistance (red) that is caused by the upper boundary of a multi-year trend channel. This seems to have caused selling pressure in the last two weeks. However, it seems that at the same time the upper bound of shorter term trend (green) is being tested! Comments and thoughts welcome!!