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NAS100 (NASDAQ)1 HOUR
New record high (25413) makes resistance a guess so use 26500 as a pivotal level as firmly above it would not only put 27000 but 28000 on the table as potential targers.
On this chart, needs to hold above 26127 for a strong bi. Below it would slow momentum but not negate the upside risk.
NAS100 (NASDAQ) 1 HOUR
Breaking its former record high (26224) puts NAS100 in unchartered waters where resistance is a guess..
Ussing the “50” level. 26500 is the next pivotal resistance.
Otherwise, needs to hold above 26224 for a strong bid while only back below 25950 would indicate a pause and cool the risk..
NAS100 (NASDAQ) DAILY
Similar to US500, today’s reversal has more than filled the opening week gap, making it 10 out of 11 green (up) candles with the exception a minor one.
Talk of US-Iram talks resuming later in the week should keep a bid under the market (barring a headline derailing talks)) as long as 25000+ trades.
On the upside, 25440 and 25916 are obstacles to the record 26224 high.
NAS100 (NASDAQ) 4 HOUR
Stock market bulls are looking for any signs to continue the recovery but the risk on two sides with seemingly irreconcilable differences trying to find common ground suggests caution ahead of weekend peace talks.
In any case, 25000 remains pivotal as it needs to become support for momentum to build to the upside.
NAS100 (NASDAQ) 4 HOUR
Same chart look as US500, just change the prices
Glass half empty, glass half filled
Glass half empty: Failure to establish above 25000 and cloud of the Middle East hovering overhead
Glass half full: The strong rebound off 22774 and HOPE that the ceasefire will hold after weekend talks.
In any case, 25000 remains pivotal on top and the trendline the closest key level on the downside.
NAS100 (NASDAQ) 4 HOUR
Similar to US500. We will see after Tuesday’s deadline whether the current rally is just a matter of feeling bid in an offered market.
To build momentum to the upside, 24550+ needs to be firmly regained.
On the downside, the trendline and 23804 need to hold to keep hopes to the upside alive.
NAS100 (NASDAQ) 4 HOUR
Outside day key reversal has seen the break of 23375 make a textbook run at key 23772 resistance (high 23782). Firmly above 23772 would be needed to build momentum although it would then face layers of resistance above 24000.
Test will be whether stocks can retain a bid with month/quarter end over and ahead of the long Easter break given the headline risk, especially if crude oil can hold a bid.
NAS100 (NASDAQ) 1 HOUR
Bounce off the new 22774 low would need to solidly regain 23243 (nicked), 23344. 23378 (for an outside day) to break momentum and then 23407 to shift risk to the upside.
Otherwise, range stays intact and dependent on 23042 holding to keep a bid and the focus away from the new low.
[MARKET UPDATE] US equity futures begin lower with Emini S&P and Emini Nasdaq 100 down 0.5% each, while crude futures are higher with WTI up 2.7% after Yemen’s Houthis joined the conflict for the first time in which it fired missiles at Israel
NEWSQUAWK MARKET WRAP (2)
It was a risk-off session with oil prices surging and equities tumbling as we head into a weekend of risk. WTI reclaimed USD 100/bbl post-settlement while E-mini futures briefly fell to sub 6,400. The moves came despite Trump’s olive branch Thursday evening, where he postponed the attacks on Iran’s energy infrastructure and power plants by another 10 days, taking the new deadline to April 6th.
Elsewhere, T-notes saw two-way price action with initial downside fading throughout the US session despite the negative newsflow and positioning elsewhere in markets, perhaps indicating some profit taking or month end rebalancing taking place.
In FX, the Dollar outperformed while CHF and GBP lagged. USD/JPY rose above 160. Gold and Silver were bid as bonds pared the overnight moves, while Bitcoin was hit. Cyber Security names were hit by an AI-disruption story. Reports dropped of a new leaked Anthropic AI model, “Claude Mythos”, which the company believes poses unprecedented cybersecurity risks.
Source: Try Newsquawk free for 7 days
NAS100 (NASDAQ) WEEKLY CHART
NAS100 (NASDAQ) UPDATE
Big picture:
- Falling into correction territory (-10%+)
- Weekly pattern continues with 5 down candles in a row (assuming a negative close today)
- Note large wicks each week indicate failed rally attempts followed by new lows.
- Next weekly supports on this CFD chart: 22672 and 21367
- On the upside, needs to regain 23660 (former lows) and 23800-22400 to postpone the risk
- Break of the weekly down candle pattern is needed to indicate a pause.
NAS100 WEEKLY CHART
