NASDAQ 100: Three Forces Driving Tech Right Now
NASDAQ 100 is trading near 29,268 after bouncing from the 28,920 support area. The move is not just technical — three forces are pulling the market in different directions.
First, AI sentiment is under pressure. Reuters reports that global AI-linked stocks fell after major AI leaders called for slowing development because of safety risks. This hit chip and AI infrastructure names, including Nvidia, AMD, SoftBank and ASML. For NASDAQ, this matters because AI optimism has been one of the main drivers behind tech valuations.
Second, valuation pressure remains a risk. When bond yields stay elevated, expensive growth and semiconductor stocks become more vulnerable to profit-taking.
Third, the chart is trying to stabilize. NASDAQ defended 28,920 and reclaimed EMA 9 and SMA 50, while RSI improved and MACD turned positive. However, the index still needs to break the 29,308–29,350 resistance zone to confirm a stronger recovery.
Scenario: above 29,350, buyers may target 29,750. If price rejects from this zone, 29,150, 29,000 and 28,920 return to focus.
Key idea: AI headlines are negative, but the chart has not broken down. NASDAQ is caught between weaker AI sentiment and a technical rebound from support.
⚠️ Not financial advice.
TITradingView Ideas14 Sept