Nasdaq 100 Ahead of the HolidaysNasdaq 100 Ahead of the Holidays
As the chart shows, the Nasdaq 100 has rebounded from its roughly 2.5-month low recorded on 21 November. At that point, bearish sentiment was driven by fears of an “AI bubble”, expectations of higher interest rates, and other news-related pressures.
The recovery from that level was strong — in less than a week the index gained around 5.3%, signalling robust demand. This not only offsets last week’s concerns but also injects optimism into the near-term outlook.
Technical Analysis of the Nasdaq 100 Chart
Examining recent price action in the Nasdaq 100, we can outline an ascending channel in which:
→ the median line acted as support until mid-November;
→ support at the lower boundary helped form the 21 November low.
From the perspective of buying pressure:
→ The November dip appears to be an intermediate correction within a broader emerging uptrend.
→ The brief move below the psychological 24k level (where the notable September and October lows lie) resembles a Liquidity Grab pattern, suggesting so-called Smart Money may have used sellers’ liquidity to build long positions — a sign of bullish intent.
From the perspective of selling pressure:
→ the market remains within a corrective structure (highlighted in red);
→ today, the Nasdaq 100 is trading near 25,265, a level that acted as resistance on 17–20 November.
It is possible that trading near the channel’s median line will encourage a balance between buying and selling forces — just as market participants head off to celebrate Thanksgiving.
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