Saad Ullah
The NASDAQ is showing some life after a rough stretch, clawing back from the 24,350 low and pushing into the 24,750-24,800 range on the hourly chart. It's a welcome bounce, but traders aren't ready to call it a full reversal just yet. As analysts noted, the key threshold to watch is 24,900. Until the index sustains trade above that level, the main downtrend stays technically intact.
Momentum Picks Up, But Resistance Looms at 25,256
The technical picture has improved with the move higher. RSI climbed to around 57, positive territory without flashing overbought signals. Volume picked up during the upswing, Bollinger Bands show price pushing toward the middle-to-upper band, and Parabolic SAR is backing the short-term rise. All solid signs for the bulls, but there's a ceiling worth noting.
The volume profile puts the Balance Point near 25,256, the main resistance zone overhead. That lines up with Nasdaq 100 compressing below a major resistance area, and it means any rally has real work to do before it can breathe freely.
On the support side, the levels to monitor are 24,671, 24,660, and 24,545. Resistance sits at 24,779, 24,909, and 25,000. Volume delta is roughly balanced with a slight lean toward buyers, suggesting the rebound has participation but not a dominant force behind it yet.
What Could Drive the Next Move
Fundamentally, the NASDAQ is responding to interest rate expectations and tech stock momentum. Declining bond yields could keep the recovery going, while stronger-than-expected macro data might stir up fresh volatility and test sentiment.
The setup right now looks a lot like US100 holding near the 24,800-24,900 range after a bounce, where the index is caught between two forces. If buyers can push through 24,900 and hold, the path toward 25,256 opens up. If momentum fades, the risk shifts back to US100 retesting the 24.6K support zone dynamics, and the recent bounce becomes just another lower high in a broader slide.
The next few sessions are the tell. A confirmed break above 24,900 changes the conversation. Anything short of that keeps the bears in the driver's seat structurally, even if the short-term tape looks better today.
Saad Ullah
