Nasdaq Composite rally builds toward 23,700 as tech surge revives upside momentum
The Nasdaq Composite Index [IXIC] is extending its rebound in today’s premarket session, Monday December 22, by building on a recovery that started late last week after the index dropped nearly 1000 points from its earlier December high of 23,700 to a low of 22,700. The initial downturn was triggered by renewed concerns over stretched tech valuations and the accelerating pace of AI-related capital expenditures.
Highlights
- Nasdaq rebound gains traction as volume surge and RSI shift confirm bullish reversal structure
- Tech led rally lifts Nasdaq after Micron forecast and softer inflation revive risk appetite
- Break above 20 day EMA shifts focus toward 23,700 and possible record retest ahead
A clear bullish reversal began on Thursday and gained strong confirmation on Friday, when the index rallied 1.35% from the 23,000 psychological mark to the weekly close at 23,310. That Friday move was particularly significant. It broke above the supply zone formed by the most recent intraday swing low and cleared the 20-day EMA resistance. In addition, Friday marked the highest single-day trading volume on the Nasdaq Composite since October, confirming strong participation behind the move.
Nasdaq Composite price chart (Oct - Dec 2025). Source: Tradingview
The rally was led by a surge in tech stocks, sparked by Micron Technology's bullish earnings forecast. Micron jumped 3.2% in premarket trading on Friday, lifting sentiment across the semiconductor sector. Chipmakers such as Nvidia, Intel, Broadcom, and AMD each posted gains of over 1%, helping the tech-heavy Nasdaq reverse its losses for both the week and the month of December.
Bullish RSI crossover supports Nasdaq upside after December drawdown recovery
Adding to the upside pressure was a cooler U.S. inflation reading on Friday. Consumer prices increased less than expected on a year-on-year basis in November, reviving optimism for multiple rate cuts by the Federal Reserve in 2025. Easing inflation expectations supported both tech stocks and broader equity risk appetite.
Today is Monday, December 22. By today’s premarket session, Nasdaq futures have already added another 0.5%, extending the momentum from last week’s rally. This upside follow-through has pulled the month-to-date performance of the index back to flat, after previously being down 2.87% at the 22,700 low.
Technical indicators are now aligned in favour of further gains. Both the 4-hour and daily RSI have shifted into bullish territory, reflecting renewed momentum and structural breakout strength. The next upside objective is the 23,700 high from early December. A clear push above that level could open the path for a retest of the all-time high near 24,000.
In recent analysis, we discussed how the Nasdaq bounced from 22,700 as a softer CPI revived short-term Fed cut bets. The index stalled below 23,160, where clustered EMAs signaled rejection risk ahead of sentiment data.
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