The Nasdaq 100 index, one of the most important benchmarks in the U.S. stock market, remains a focal point for traders and investors alike. Comprising leading tech giants and innovative industries, the index has shown interesting price movements in recent days. With U.S. Independence Day limiting trading activity, market participants are now waiting for liquidity to return and a clearer trend to emerge.
Fundamental Analysis (Past Week)
Several key fundamental events shaped the Nasdaq’s performance over the past week:
- U.S. Independence Day holiday resulted in lower trading volumes and a cautious market mood.
- Non-Farm Payrolls (NFP) data revealed a slightly higher unemployment rate than expected, fueling hopes that the Federal Reserve might consider cutting interest rates in the near future.
- Strong performance of major tech stocks such as Apple and Microsoft helped the index remain elevated, though selling pressure emerged near key resistance levels.
- Recession fears and divisions among Federal Reserve members over future monetary policy continue to create uncertainty in the markets.
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Technical Analysis of Nasdaq 100
The index climbed sharply from around 21,200, reaching as high as 22,800 before encountering strong resistance.
The 22,800 – 22,850 zone has acted as a significant resistance area, triggering a price pullback. At present, the index is consolidating near 22,700.
If the correction deepens, the 22,600 – 22,500 zone may serve as a crucial support area to watch.
Momentum indicators on the 1-hour timeframe show signs of weakening. While the overall trend remains bullish, a deeper pullback may be necessary for the uptrend to resume sustainably.
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