Nasdaq 100 Ahead of the Holidays

As the chart shows, the Nasdaq 100 (US Tech 100 mini on FXOpen) 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 (US Tech 100 mini on FXOpen), 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 (US Tech 100 mini on FXOpen) 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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