Over 2% drop for Nasdaq 100 as chip stock declines and weak Samsung earnings weigh

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Nasdaq 100 slides 2.35% today

Highlights

Nasdaq 100 futures fell as chip stocks weakened following Samsung's record earnings miss, triggering a reassessment of AI equity valuations.
SpaceX was officially added to the Nasdaq-100 index after rule changes, while Dow futures posted slight gains in contrast.
Technicals indicate the index trades below short- and medium-term moving averages, consolidating near 29,000 with an expected five-day range of 28,492 to 29,497.

Investor disappointment in Samsung earnings prompts AI valuation reassessment

Nasdaq 100 futures declined as chip stocks weakened, following Samsung's record earnings that failed to meet investor expectations and prompted a reassessment of valuations in AI-related equities. Additionally, SpaceX officially joined the Nasdaq-100 index after updated eligibility rules. Weakness in Nasdaq 100 E-minis was also reported, contrasting with slight gains for Dow futures.

Anton Kharitonov, expert at Traders Union, sees the Nasdaq 100 under sustained selling pressure after weak chip stock performance and Samsung's disappointing earnings. He notes that a daily close below the 20- and 50-day moving averages points to persistent bearish sentiment. Although longer-term momentum remains constructive, intraday volatility and seller exhaustion dominate. Technical signals are mixed, but intraday weakness and the failure to hold resistance levels weigh heavily. "Buyers face exhaustion and near-term risk remains high — I would not rule out another test of support if negative news persists."

Viktoras Karapetjanc, expert at Traders Union, believes that the Nasdaq 100’s long-term bullish structure remains intact despite temporary pullbacks. He views Samsung’s news and the addition of SpaceX as catalysts for future growth. Market volatility is presenting fresh setups for forward-looking investors. He emphasizes that the high probability of an upward move and resilience above the 200-day moving average offer confidence. "This consolidation phase creates attractive opportunities — I expect renewed upward momentum as the bullish trend continues."

Parshwa Turakhiya, analyst, sees the Nasdaq 100 in a sentiment-driven consolidation after a sharp daily loss. He highlights that mixed momentum indicators signal both risk and potential, keeping short-term setups in play near support and resistance. The open gap and intraday volatility point to possible quick rebounds. "Traders should watch for a range break near 28,492 or 29,497 — a decisive move could trigger a rapid shift in sentiment either way."

Mixed momentum as Nasdaq 100 tests support amid elevated volatility

Nasdaq 100 is trading below both the 20-day ($29,599) and 50-day ($29,198) moving averages, highlighting ongoing near- and medium-term seller pressure. However, the index remains well above the 200-day ($26,119), confirming the longer-term bullish structure. The nearest resistance is at $29,088, with short-term support at $28,492, and the Ichimoku Kijun ($29,479) offers additional resistance close to current prices. Momentum indicators are mixed: MACD and Awesome Oscillator suggest further upside potential, while ADX and CCI reflect a neutral outlook. The RSI remains mid-range with a buy signal, and the Stochastic RSI signals a strong buy without overbought conditions. BBP is positive at 170.64, pointing to buyers dominating intraday, but also flagging overbought risk. The index traded at $28,999 after a daily loss of 697.99, down 2.35%, opening with a significant downside gap near 1.06%. The price holds near the session low, volatility is elevated at 0.94%, and intraday losses highlight the impact of buyer exhaustion and bearish daily momentum even as some metrics remain constructive.

Earlier, analysts noted that persistent selling pressure in the Nasdaq 100 was a key risk amid technical weakness within a broadly bullish framework. The latest moves intensify this narrative, with elevated volatility and weakening chip stocks reinforcing the need to monitor for a potential breakout above $29,497 or renewed losses below $28,492 as crucial signals for the next directional move.

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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