ThinkMarkets’ NAS100 — TradingView

Given the lack of impactful macroeconomic data today, continued optimism in the technology and artificial intelligence sectors pushed the index past its all-time peak. This gives the movement exceptional “artistic quality”. The market is also awaiting the weekly close; we are also noticing a strong flow of liquidity into risk assets as a stabilization above the top will boost confidence that more gains will be realized in the week ahead.

Technical vision and expected scenarios:
According to the daily chart, the Nasdaq achieved a new milestone by surpassing its previous historical resistance level (the previous high) at around 26,289 points, and the index is currently trading above this level. The breakout follows a strong rally that began last March near the bottom of 22,997.

Technically, several technical indicators support the momentum so far; price is settling above the moving averages (20-day and 50-day) after a positive crossover, and the distance between price and the moving averages reflects the strength of upward buying momentum. Additionally, the Relative Strength Index (RSI) curve stabilizes above the 50 level and reaches the 70 level; this could take us into “overbought” territory, which could signal some correction, but the strong trend remains.

Based on this, here are the possible scenarios:
1. Positive Scenario:
Stability and stability above the 26,289 level could support this level turning into strong support, especially if it is retested and rebounded above; this could open the door to new levels targeting 26,800 or even 27,000.

2. Scenario:
Another break below and hold below 26,289 could point to consolidation below this level.

3. Negative Scenario:
If the decline extends and sustains below 23,986, it could indicate targeting the 22,997 level again.
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