Nasdaq 100 index dips amid rising selling pressure

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Nasdaq 100 slides 2.2% today

Highlights

Nasdaq 100 maintains a medium- and long-term bullish trend despite short-term selling pressure below its 20-day average.
Momentum indicators confirm ongoing buying strength, with no clear overbought signals, though overbought forecasting warrants caution.
The index is expected to consolidate between 29,160 and 30,427 over the next five days, with an over 80% probability of upward movement.

Anton Kharitonov, expert at Traders Union, notes the sharp 2.2% drop in the Nasdaq 100 as clear evidence of technical selling pressure. He observes that the lack of meaningful news leaves the market vulnerable to sentiment shifts and positions unwinding. Kharitonov points to the short-term break below the 20-day moving average as a warning sign, offset only by the medium- and long-term bullish structure. He cautions that indicators like an overbought forecast and positive BBP might mask underlying risks. "Despite dominant buying momentum, I see increased downside risk if the index loses support at 29,604 — defensive strategies remain prudent now."

Viktoras Karapetjanc, expert at Traders Union, sees the recent pullback in the Nasdaq 100 as a healthy technical correction within a persistent bullish trend. He emphasizes the index’s continued resilience above key longer-term levels, reflecting strong medium- and long-term demand. Karapetjanc highlights that, in the absence of negative news catalysts, the index is set up for renewed growth amid constructive momentum signals. "The bullish structure remains intact, and I expect further upside moves as the market offers multiple setups for buyers."

Parshwa Turakhiya, analyst, believes today’s volatility in the Nasdaq 100 reflects heightened short-term uncertainty among participants. He sees buyers reclaiming ground after early selling, as signaled by positive momentum and a partial recovery near today’s high. Turakhiya notes that neutral sentiment indicators suggest room for further swings in either direction. "Quick traders should watch the reactions at 29,686 and 29,604 — these levels may offer sentiment-driven, intraday opportunities."

Bullish medium-term signals persist despite breach of short-term average

Nasdaq 100 trades below the 20-day moving average at 29,907, but remains above both the 50-day at 28,589 and the 200-day at 25,866, supporting a strong medium- and long-term bullish structure with short-term pressure from sellers. The index is currently holding just above the Ichimoku Kijun support at 29,479, with key near-term levels at the ceiling of 29,686 (today’s high) and the floor at 29,604 (week low). Momentum signals remain constructive: both the Moving Average Convergence Divergence (MACD) and Average Directional Index (ADX) indicate ongoing buying momentum. The Relative Strength Index (RSI) and Commodity Channel Index (CCI) both reflect moderate bullish conditions without clear overbought signals, and Stochastic RSI sits in a neutral zone. The Bull/Bear Power (BBP) is firmly positive at 757, showing buyers are currently dominant; however, the overbought forecast signals caution at these levels. The Awesome Oscillator (AO) also confirms the prevailing bullish momentum. The index has softened through the session, declining by 667.58, or 2.2%, after a downside gap of around 3.3%. It trades near today’s high, with intraday volatility at 1.16%, suggesting a partial recovery and lingering upward bias after early weakness.

Earlier, analysts noted that the Nasdaq 100 was under pressure from sustained selling and a shift to an oversold environment, raising questions about the durability of key support. The current setup signals that bullish momentum has reasserted itself, and traders should watch for a breakout above 29,686 as confirmation of renewed upside potential 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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