Nasdaq 100 (US100) Technical Analysis: Uptrend Eyes R1 Resistance
Nathan BrooksUS Markets & Federal Reserve Analyst · ForexR analyst
The Nasdaq 100 (US100) maintains a bullish trend across the daily, H4, and H1 timeframes. Immediate resistance stands at 30812.9 as traders navigate today's Fed commentary.
| Resistance | Level | Support | Level |
|---|---|---|---|
| R3 | 31,763.2 | S1 | 29,862.6 |
| R2 | 31,162.3 | S2 | 29,261.7 |
| R1 | 30,812.9 | S3 | 28,912.3 |
| Previous day high | 30,561.3 | Previous day low | 29,611.0 |
| 20-day high | 30,561.3 | 20-day low | 28,744.6 |
| Daily pivot 30,212.0. Data as of 2026-09-22 16:33 UTC; price from a live feed, levels computed from the previous completed daily bar. | |||
Nasdaq 100 Tests Intraday Highs in New York
Trading in the New York session, the Nasdaq 100 (US100) sits at 30605, marking an increase of 141.4 points on the day. The index has carved out an intraday range of 325.7 points between a low of 30369.1 and a high of 30694.8. This price action accounts for 70 percent of the daily average true range of 463.04 points, indicating moderate volatility thus far in the session.
Consistent Upward Momentum Across Timeframes
Momentum across the observed timeframes aligns to support a bullish bias. The daily, H4, and H1 charts all reflect upward trends. On the daily timeframe, price trades above the 200-period exponential moving average. The daily relative strength index (RSI) sits at 66.3, confirming the upward momentum without crossing into overbought extremes.
Key Levels Framing the Current Session
Immediate downside protection rests at the previous day high of 30561.3, providing the nearest support level. On the topside, the nearest resistance is the R1 pivot point at 30812.9. Zooming out, the 20-day high shares the 30561.3 level, while the corresponding 20-day low marks 28744.6. Round number support and resistance lie at 30000 and 31000, respectively.
Trade Scenarios to Consider
In a bullish scenario, a break above the R1 resistance at 30812.9 acts as the trigger, opening the way toward a target of R2 at 31162.3. A move back below the daily pivot at 30212 would invalidate this view.
Conversely, a bearish scenario requires a break below the S1 support at 29862.6 as a downside trigger. This would clear a path toward the S2 target at 29261.7, with the same daily pivot at 30212 serving as the invalidation level.
Fed Speeches and High-Impact PMIs in Focus
Today's focal point on the economic calendar is a speech from the Fed's Barkin at 17:00 UTC. Tomorrow brings high-impact data with the US S&P Global Services PMI, estimated at 56 against a previous 56.5, and the Manufacturing PMI, forecast at 53.5 compared to a previous 53.9, both scheduled for 13:45 UTC alongside the Composite PMI. Tomorrow also features a speech from the Fed's Barr at 14:05 UTC.
In the newsflow, financial media coverage highlights the ongoing tech rally and AI-driven market highs, as reported by outlets including Seeking Alpha and CNBC International TV. News sentiment indicates a media mood of 85, with coverage leaning 71 percent bullish and an opportunity reading of 55. As of the week to September 15, speculators added to net long Nasdaq 100 (US100) positioning. For broader context, US Treasury yields at the September 21 close showed the 2-year yield at 4.76 percent and the 10-year yield down 5 basis points to 4.96 percent.
Bottom Line
The Nasdaq 100 (US100) trends upward across all major timeframes as it trades firmly near its intraday highs. Bulls hold the technical advantage, with the immediate topside test positioned at the R1 resistance of 30812.9.
FAQ
What are the key technical levels to watch for the Nasdaq 100 (US100) today?
Immediate support for the Nasdaq 100 sits at the previous day high of 30561.3, with round-number support slightly lower at 30000. Upside resistance is positioned at the R1 pivot point of 30812.9, followed by the 31000 round level.
How could tomorrow's US S&P Global PMI reports impact the tech-heavy index?
Tomorrow at 13:45 UTC, the US S&P Global Services PMI is estimated at 56, and the Manufacturing PMI is forecast at 53.5. These high-impact releases provide insights into economic health and can influence broader index volatility.
What is the current market sentiment surrounding the Nasdaq 100?
News sentiment indicates a media mood of 85 out of 100, with coverage leaning heavily optimistic at 71 percent bullish. Additionally, an independent opportunity reading sits at a bullish 55.