Saad Ullah
⬤ The NASDAQ 100 is trading under sustained downward pressure after declining from 25,443 and stabilizing near 24,534 on the hourly chart. Price action shows the index attempting to consolidate after the recent selloff, but the broader structure remains fragile. The short-term outlook stays weak while the index trades below the 24,688 resistance zone, which currently acts as the main barrier for any recovery attempt. Related context on this level is available in Nasdaq Holds Near 24,790 After Pullback From 25,100, where the index similarly stabilized near support after a rejection from higher levels.
⬤ Technical indicators highlight continued weakness in momentum. The Relative Strength Index sits near 41.4, reflecting limited buying strength following the decline. Volume picked up during the selloff, confirming strong seller participation. Volume Profile analysis places the Point of Control near 24,982, meaning the current price sits below the market equilibrium zone. Negative volume delta readings further confirm that selling pressure continues to dominate short-term market structure.
⬤ Additional indicators reinforce the cautious outlook. Price action is positioned near the lower Bollinger Band, a signal typically associated with persistent downward pressure after a strong selling phase. The Parabolic SAR remains above the current price, confirming the continuation of the short-term bearish trend. Immediate support levels sit at 24,534, 24,494, and 24,360. On the upside, resistance levels at 24,688, 24,854, and 24,886 would need to be reclaimed for the technical picture to improve, as outlined in NASDAQ Price Analysis: Index Tests Key 25,000 Resistance After Rebound From 24,500.
⬤ Broader macroeconomic conditions are also weighing on the index. Rising geopolitical risks, higher oil prices, U.S. dollar strength, and climbing bond yields continue to pressure technology stocks and dampen global risk appetite. These dynamics underline how sensitive NASDAQ remains to both technical resistance zones and macro factors shaping equity markets, a pattern also discussed in Nasdaq Stalls at 25,100 as Range Tightens Between 24,650 and 25,100.
Saad Ullah
