Nasdaq 100 Analysis: February Pushes Index Below January’s Opening Price

The Nasdaq 100 (US Tech 100 mini on FXOpen) chart shows:
→ January’s opening price was around 21,085.
→ February’s closing price was around 20,867.

This marks a 1% decline since the start of the year.

A report from Goldman Sachs, published on Friday, reinforces bearish sentiment, stating that global hedge funds sold more stocks than they bought at the end of February—the largest net selling in a year, according to Reuters.

Possible reasons for market pessimism:

→ AI-related stocks may be highly overbought. For instance, the "Magnificent Seven" tech stocks have underperformed the broader market in 2025.

→ Trump’s tariff policies on global trade could have negative economic consequences.

Technical Analysis of Nasdaq 100 (US Tech 100 mini on FXOpen)

Bullish perspective: Breaking January’s low did not trigger a strong downward trend.

Bearish perspective: The price has fallen below the support line (lower blue line), which had held since autumn last year.

The market’s next move could depend on how Nasdaq 100 (US Tech 100 mini on FXOpen) behaves around the 21,030 level. Previous rebounds from this support line were weak, and bears managed to break through with effort. This suggests they may still control this zone.

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