Usman Salis
⬤ US100 has retreated from the 25,100 resistance zone and is now consolidating near 24,790 on the one-hour timeframe, in a recent market update. The initial selling wave pushed price back into the 24,800-24,900 range, with the index now testing intraday support near 24,650. The short-term pattern reflects sideways to mildly bearish behavior following that upper-range rejection. NASDAQ (US100) Drops to 24.6K Support as Bears Hold Control.
⬤ Key technical levels are clearly defined. Support sits at 24,650, 24,450, and 24,380, while the 25,050-25,100 zone keeps capping upside attempts. Volume Profile data shows a balance zone near 24,770, where buyers and sellers have previously found common ground. RSI is hovering weakly in the 43-50 range, Parabolic SAR dots are sitting above price, and the index is trading near the middle of the Bollinger Bands, all pointing to compression and near-term indecision.
⬤ On the macro side, Nasdaq remains sensitive to U.S. Treasury yield movements, which continue to weigh on tech and growth stocks. The shallow pullback from resistance mirrors prior Nasdaq behavior during extended consolidations. NASDAQ US100 Finds Footing Near 24,800 After Bouncing From 24,600 Low - that kind of price action lines up with what's unfolding now, as the market digests macro pressure without a clean directional break.
⬤ With US100 wedged between support and resistance, the next move will likely come down to how price handles the 24,650 level. A hold there could stabilize the index and open the door for a recovery attempt, while a break lower would expose the 24,450-24,380 support cluster. Bond yields and rate expectations remain the key macro variables to watch. NASDAQ 100 Breaks Resistance After Extended Consolidation.
Usman Salis
