Technical exhaustion among sellers drives Nasdaq 100 higher by more than 2%

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Nasdaq 100 rises 2.10% today

Highlights

Nasdaq 100 trades below its 20-day, 50-day, and 200-day moving averages, indicating sustained selling across all time frames.
Key technical levels are resistance at 27,316 and support at 26,952, with the index currently at 27,190 after a 2.1% session rise.
Momentum indicators remain bearish and oversold, with a forecast range of 26,078 to 28,301 and over 80% probability of a downward move in the next five days.

Anton Kharitonov, expert at Traders Union, notes that despite the Nasdaq 100’s sharp rebound, technical signals point to sellers retaining control. He highlights persistent bearish momentum, as the index sits beneath all major moving averages and fails to break resistance at 27,316. Kharitonov stresses that exhausted sellers may prompt brief rallies, but weak sentiment and lack of supportive news keep the broader trend downward. The lack of fundamental catalysts strengthens his skepticism about any sustainable recovery. "Momentum remains firmly negative, and without concrete news or a decisive technical break, any bounce is likely to be short-lived."

Viktoras Karapetjanc, expert at Traders Union, sees the recent oversold rebound as an opportunity within a larger bullish structure. He underscores that the long-term technical alignment between the MA-50 and MA-200 remains positive. Karapetjanc emphasizes potential for upward moves if resistance at 27,316 is recaptured, despite near-term volatility. He believes the technical picture still favors further growth opportunities once selling pressure subsides. "I remain confident the market offers bullish setups, and a break above resistance could unlock further upside."

Parshwa Turakhiya, analyst, observes that the index is caught in a volatile mid-range after a sharp swing. He identifies short-term oversold signals from multiple momentum indicators, suggesting tactical bounce setups for active traders. Turakhiya remains neutral on direction, noting strong resistance and support levels that will guide quick sentiment shifts. "For now, intraday moves present both risk and reward — nimble traders should watch 26,952 and 27,316 for immediate cues."

Bearish momentum persists as moving averages and oscillators align

NDX remains below its 20-day, 50-day, and 200-day moving averages ($29,287, $29,686, and $27,976), indicating bearish momentum across short-, medium-, and long-term trend horizons. Nearest resistance stands at $27,316 with immediate support at $26,952. The long-term trend is technically bullish, as reflected by the MA-50 versus MA-200 alignment. Momentum indicators are firmly bearish, with both MACD and ADX confirming strong selling pressure. RSI, Stochastic RSI, and CCI are all in the oversold zone, pointing to a potential short-term rebound as selling exhaustion emerges. Bear power dominates intraday momentum, with the Awesome Oscillator further backing the prevailing bearish trend. The index is currently mid-range after a volatile session with a 1.35% price swing.

Earlier, analysts noted that the Nasdaq 100 was under sustained downside risk due to persistent bearish technical momentum and increased regulatory concerns. The current analysis reinforces this bearish outlook, highlighting that despite the recent oversold rebound, ongoing momentum and trend signals point to potential downside risk if NDX fails to hold above the $26,952 support level.

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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