Nasdaq 100 index dips amid rising selling pressure

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Nasdaq 100 slides 2.43% today

Highlights

Nasdaq 100 is trading below its short-term average but remains above medium- and long-term trend levels, signaling short-term weakness within a broader bullish trend.
Intraday momentum is pressured, with oscillators suggesting possible seller exhaustion, though key indicators present mixed signals on the trend's strength.
The index is expected to trade between 27,550 and 30,425 over the next five days, with a 75% probability of upward movement if support holds above 29,133.

Anton Kharitonov, expert at Traders Union, notes that Nasdaq 100 is under heavy selling pressure after dropping below its 20-day moving average, with downside leadership dominating intraday action. He highlights that oscillators show mixed signals, and the absence of positive news flow further weakens confidence. Medium- and long-term trends hold above critical supports, but momentum is clearly faltering short term with sellers persistently active. Kharitonov argues that risks of further pullback remain elevated, especially if the index breaks support near 27,562. "Until momentum turns decisively, I see little reason for aggressive buying as downside cannot be ruled out."

Viktoras Karapetjanc, expert at Traders Union, sees the current dip in Nasdaq 100 as an opportunity for disciplined buyers. He emphasizes that the index maintains a bullish structure above its medium- and long-term moving averages, with key indicators such as weekly RSI and MACD supporting further gains. Karapetjanc points out that the market offers attractive setups around the Kijun support level, with volatility providing tactical entry points for growth-focused investors. "With technicals aligned and long-term trends intact, I expect renewed upside momentum and view this pullback as a chance to position for the next advance."

Jainam Mehta, market strategist, takes a balanced view of the Nasdaq 100 after the sharp decline below the 20-day moving average. He sees mixed momentum signals but suggests that oversold readings in short-term oscillators could set up a contrarian bounce. Mehta highlights the potential for tactical trades if the index rebounds above 29,133, though sustained weakness below 27,562 would warrant caution. "I am watching for signs of reversal at support, but will remain flexible as volatility creates both risks and opportunities."

Support boundaries challenge momentum as intraday selling exhausts

Nasdaq 100 is currently trading below its 20-day moving average ($29,673.25) and above both the 50-day ($27,562.63) and 200-day ($25,583.08) moving averages. This positioning indicates sellers are in control in the short term, yet the medium- and long-term trend remains bullish, supported by higher moving averages. Immediate support sits near the Ichimoku Kijun level at $29,133.15, with the 20-day and 50-day moving averages serving as key resistance and support boundaries, respectively. Momentum is mixed, with the MACD on the daily chart showing a strong buy signal, but the ADX at 30.32 signals an ongoing trend that is losing strength intraday. The RSI at 53.53 suggests neither overbought nor oversold conditions, yet the Stochastic RSI and Bull/Bear Power both indicate the index is oversold and sellers dominate intraday momentum. Daily performance shows the index opened with an upside gap of about 253 points, followed by a decline of 2.43% to $28,700.49, now near the low of the day’s range and with volatility at 4.01%. Current intraday tone is pressured after the open, and several oscillators suggest possible exhaustion among sellers, even as momentum signals are not entirely aligned.

Earlier, analysts noted that persistent short-term selling pressure and heightened volatility had been dominating the Nasdaq 100 despite the longer-term bullish structure remaining intact. With the latest mixed momentum signals and increased probability of an upward move, traders should closely monitor the $29,133 level as a potential pivot point for renewed upside in the days ahead.

Source of Data: NDX Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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