Nasdaq-100 consolidates as key support holds
SINCE early August 2026, the Nasdaq-100 has entered a period of consolidation after posting a remarkable rally during the first half of...
The Nasdaq-100 has entered a consolidation phase since early August 2026, following a significant rally during the first half of the year. The index experienced a 10% correction from its record high in early June, finding support near the end of July before recovering. While volatility has increased, the long-term uptrend remains intact, with investors closely monitoring corporate earnings, monetary policy expectations, and the sustainability of the technology-led rally.
Sector rotation has also become more pronounced, with technology shares exhibiting larger swings during the latest earnings season. The recent pullback marks the first meaningful correction since the strong advance from March lows. The index is approaching an important resistance cluster, with the first hurdle between the 30,000 psychological level and the 38.2% Fibonacci retracement level near 30,200.
Clearing this resistance could signal renewed buying momentum and potentially lead to a move towards the 50% Fibonacci retracement level of 31,137. If this resistance is breached, it would invalidate the short-term bearish structure established during the June-to-August consolidation.
Brief written by urgent.news from The Business Times - Companies & Markets's own syndicated text. Machine-written — it may contain errors, so check the original before relying on it.
