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Key Takeaways
NASDAQ 100 has staged a powerful recovery, posting four consecutive sessions of gains after its recent correction.
RSI has recovered back above the neutral 50 level, indicating momentum has shifted back in favor of buyers.
MACD has generated a bullish crossover, suggesting downside momentum has likely exhausted itself.
Mega-cap technology once again led the advance, with Microsoft, Nvidia, Meta, Amazon and Apple accounting for the majority of the index's gains.
The rebound has restored confidence, but investors should watch whether the index can sustain above key resistance before calling for new all-time highs.
Market Overview
After several weeks of profit taking, the technology sector has reminded investors why it continues to dominate U.S. markets.
The NASDAQ 100 rallied sharply over the past week as investors returned aggressively to AI infrastructure, cloud computing and software leaders. Strong earnings from several hyperscalers, easing geopolitical concerns and falling oil prices helped improve overall market sentiment, while expectations that the Federal Reserve may remain supportive added further fuel to the rally.
Perhaps more importantly, this rebound wasn't driven by speculative names—it was led by the highest-quality companies in the market.
Technical Picture – NASDAQ 100
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RSI (14)
Current reading: approximately 58–62
Momentum has recovered above the important 50 level.
Still comfortably below overbought territory (70).
Indicates buyers are regaining control.
MACD
Bullish crossover confirmed.
Histogram has turned positive.
Momentum continues improving as buying pressure increases.
Key Levels
Support
27,800
27,300
26,900
Resistance
28,500
29,000
Previous all-time highs near 29,200+
As long as the index remains above support, bulls maintain the technical advantage.
The Five Stocks Driving the Recovery
1. Microsoft (MSFT)
Microsoft continues to lead institutional buying after another strong cloud and AI-driven earnings report.
Technical Levels
Immediate Support: Previous breakout zone
Major Support: 50-day Moving Average
Resistance: Recent all-time highs
Technical View
RSI: Bullish (mid-60s)
MACD: Positive crossover
Trend: Strong uptrend remains intact.
2. Nvidia (NVDA)
Nvidia remains the heartbeat of the AI trade.
Demand for next-generation AI chips continues to outweigh supply, while investors remain confident in another year of exceptional earnings growth.
Technical Levels
Support: 20-day EMA
Major Support: 50-day Moving Average
Resistance: Recent highs
Technical View
RSI: Around 60
MACD: Bullish
Higher highs and higher lows remain intact.
3. Meta Platforms (META)
Meta has quietly become one of the strongest momentum stocks following impressive advertising growth and AI monetization.
Technical Levels
Support: Recent breakout level
Major Support: 50 DMA
Resistance: Previous record highs
Technical View
RSI: Bullish
MACD: Positive
Momentum continues to strengthen.
4. Amazon (AMZN)
Amazon benefited from continued optimism surrounding AWS growth and AI spending despite some post-earnings volatility.
Technical Levels
Support: 20 DMA
Major Support: 50 DMA
Resistance: Recent swing highs
Technical View
RSI recovering toward 60
MACD turning positive
Trend remains constructive.
5. Apple (AAPL)
Apple participated in the rally as investors rotated back into mega-cap quality despite slower iPhone growth expectations.
Technical Levels
Support: 50 DMA
Major Support: 200 DMA
Resistance: Previous highs
Technical View
RSI improving
MACD bullish crossover
Institutional buying returning.
What Comes Next?
Bull Case
If buyers continue defending the recent breakout, the NASDAQ 100 could challenge the 29,000–29,200 region over the coming weeks. Improving momentum indicators, strong earnings and renewed AI enthusiasm all support this scenario.
Bear Case
The rally has been extremely sharp over just a few sessions. Short-term profit taking would be healthy, particularly if the index struggles near resistance. A pullback toward the 20-day moving average would not damage the longer-term bullish trend and could offer a better entry point for investors.
Final Thoughts
The recent rebound appears to be more than just a relief rally. Technical indicators have improved materially, institutional buying has returned to the largest AI and cloud leaders, and the breadth of participation has expanded beyond semiconductors.
While some consolidation would not be surprising after such a rapid advance, the overall trend remains constructive. As always, watch RSI for signs of overheating, monitor MACD for continued momentum, and pay close attention to whether the NASDAQ 100 can hold above its recent breakout levels.
If you're looking for in-depth technical analysis, weekly market insights, and actionable investment ideas, stay tuned for next week's newsletter.
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Until next time, keep compounding …
Disclaimer: The information provided on this website is for educational and informational purposes only and does not constitute financial, investment, or trading advice. Investing in securities involves risk, including the potential loss of principal; always conduct your own research and consult a qualified financial professional before making investment decisions.
