Over 2% gain for Nasdaq 100 as upside gap and technical support fuel price surge

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Nasdaq 100 rises 2.24% today

Highlights

The Nasdaq 100 is trading below its short-, medium-, and long-term moving averages, indicating continuing downward pressure.
Bearish momentum dominates as MACD, ADX, and oscillators remain negative or oversold, confirming strong seller control.
For the next five trading days, the expected range is 26,484 to 28,684 with a 78% chance of a move lower.

Anton Kharitonov, expert at Traders Union, believes the latest bounce in the Nasdaq 100 is shallow given the lack of solid news drivers and persistent negative technical signals. He sees selling pressure dominating, as the index remains below key averages and indicators point to prevailing weakness. With all major oscillators flashing red, he expresses skepticism about any sustainable upside. Kharitonov cautions that the current move is likely corrective, not the start of a new trend. "Unless we see fundamental catalysts or a technical breakout above resistance, I expect renewed downside for the index."

Viktoras Karapetjanc, expert at Traders Union, notes the rebound signals returning demand and may set the stage for a better risk-reward profile this week. He emphasizes that volatility and oversold readings could soon encourage buyers, even as the broader structure stays cautious. Karapetjanc remains attentive to a breakout above 27,984, which could reinvigorate upward momentum. He sees sideways action as an opportunity for selective entries. "The index still offers setups for agile traders — a breakout above resistance can lead to further growth."

Parshwa Turakhiya, analyst, sees the recent move driven by short-term sentiment and intraday momentum. He highlights oversold signals as a potential sign of exhaustion among sellers, yet stresses that a reversal needs confirmation. Turakhiya suggests traders should watch for a decisive break of current ranges to reveal the next trend. "In this environment, I recommend waiting for a clear trigger before committing to new positions."

Bearish trend persists as momentum indicators flag downside risk

Nasdaq 100 remains under pressure across all examined timeframes, trading below its MA-20 at 29,092, MA-50 at 29,633, and MA-200 at 27,984. The current session’s upper boundary is near the 27,984 resistance level, with the floor established at today’s high of 27,310. Both MACD and ADX point to strong downside momentum, while the RSI stays neutral. Stochastic RSI and CCI are positioned in oversold zones, indicating possible downside exhaustion. The Bull/Bear Power (BBP) remains negative at -1122.5 and the Awesome Oscillator (AO) forecasts continued selling pressure. Despite a 2.24% gain and price action near session highs, technicals suggest the broader trend remains bearish with volatility at 1.50%.

Earlier, analysts noted that the Nasdaq 100’s technical landscape signaled persistent selling pressure despite sector-related optimism. With continued bearish momentum across key indicators, traders should monitor for any sustained move beyond the 27,984 resistance as a potential inflection point.

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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