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Nasdaq 100
Nasdaq 100 under pressure: Key 100-day EMA test approaches
The Nasdaq 100 is approaching a crucial support level as AI and interest-rate concerns weigh on sentiment. The rising 100-day EMA at 29,381 could provide a foundation for recovery, while a breakdown would increase the risk of a deeper correction.
The US Tech 100 is heading for a fourth consecutive session of losses, bringing its rising 100-day EMA near 29,381 into focus. Holding this support could set the stage for a recovery, while a breakdown would weaken the technical outlook.
AI funding concerns weigh on technology stocks
Concerns about funding the AI boom are weighing on technology shares. Investors are questioning whether enormous data-centre investments remain sustainable amid elevated financing costs. Meanwhile, stronger-than-expected US inflation data have added uncertainty over the interest-rate outlook.
Nasdaq 100 technical analysis: Support at 29,381 comes into focus
After stabilising successfully in September, the Nasdaq 100 recovered towards resistance around 30,894. A subsequent advance briefly carried it above 31,333. Sellers have since regained control.
The supplied daily chart shows IG’s US Tech 100 Cash indication trading around 29,567, leaving it close to the 100-day exponential moving average at 29,381. The rising trendline has already been breached during the session, making the moving average an increasingly important support reference.
If buyers defend the still-rising EMA, a classic pullback opportunity could develop within the broader uptrend. Reaching the moving average alone, however, does not confirm a long signal. A clear bullish reaction would strengthen the case for a recovery towards the next major resistance area at 30,800–30,894.
Nasdaq 100 daily chart: 100-day EMA and key support levels
RSI near 48.5: Recovery needs confirmation
The RSI is approaching the 48.5 threshold used in this analysis. Stabilisation above this level would support the bullish pullback scenario. A move below it, combined with a confirmed break of the EMA, would instead point to weakening upward momentum.
Below the EMA, the first monthly pivot support lies around 29,200. If that level also gives way, the correction could extend towards the next pivot support area around 27,900–27,950.
Nasdaq 100: Long and short setups
| Scenario | Potential confirmation | Potential targets | Scenario weakened by |
|---|---|---|---|
| Long | The 100-day EMA holds, followed by a bullish daily candle and RSI stabilisation above 48.5 | 30,800–30,894, followed by 31,333 | A daily close below the EMA |
| Short | A daily close below the 100-day EMA, with the RSI below 48.5 | Initially 29,200, followed by 27,950–27,900 | A sustained recovery above the EMA |
Nasdaq 100: Five-Year Price Performance
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