Nasdaq 100 (US100) Technical Analysis

Daily outlook Neutral bias Oct 8, 2026, 12:36 UTC

Nathan BrooksUS Markets & Federal Reserve Analyst · ForexR analyst

The Nasdaq 100 trades lower on the day, testing immediate support at S1. Conflicting trends across major timeframes create a neutral technical bias until structural levels break.

Nasdaq 100 Pulls Back in Active Overlap Session

During the London and New York session overlap, the Nasdaq 100 (US100) sits between support at S1 (30941.2) and the daily pivot (31107.4). The index last traded at 30944.2, falling 205.5 points to mark a 0.66% decline from the previous close of 31149.7. After establishing a day open at 31170.9, price action carved out a day high of 31221.4 and a day low of 30875.9. This movement generates a daily range of 345.5 points. Measured against historical volatility, today's session range accounts for 78% of the 14-day Average True Range, which currently sits at 442.03 points. The immediate market phase concludes when London closes at 16:00 UTC.

Trend and Momentum Assessment

Technical indicators deliver conflicting signals across the major timeframes. The daily chart maintains an upward trend, with price currently trading above the 200-period exponential moving average. Moving down the chart hierarchy, the four-hour timeframe displays a mixed state. In contrast, the one-hour timeframe indicates a downward trend. The daily relative strength index prints at 67.7. Because these primary timeframes do not agree, the overarching technical bias remains neutral.

Key Technical Support and Resistance

The nearest structural levels defining the current price action are support at S1 (30941.2) and resistance at the daily pivot (31107.4). Below immediate support, further downside pivot points rest at S2 (30732.8) and S3 (30566.6). On the upside, clearing the daily pivot opens the way to resistance at R1 (31315.8), followed by R2 (31482) and R3 (31690.4).

Recent trading boundaries show yesterday's high reached 31273.5, while yesterday's low printed at 30898.9. Expanding the view, the five-day window holds a high of 31365 and a low of 30260.5. The twenty-day window shares the same high of 31365, though its distinct low resides at 28744.6. The nearest round numbers in play are 31000 above the market and 30000 below.

Directional Scenarios for the Session

A break below the immediate support floor at S1 (30941.2) would open the way to a lower target at S2 (30732.8). A move back above the daily pivot at 31107.4 would invalidate this bearish outlook.

Conversely, a break above R1 at 31315.8 would open the way to a higher target at R2 (31482). A move back below the daily pivot at 31107.4 would invalidate this bullish view. Traders evaluating these paths often manage their exposures utilizing a risk and reward calculator.

Economic Calendar and Market Context

Today's event calendar centers on central bank commentary, beginning with a speech from the Fed's Kashkari at 14:40 UTC, followed by the Fed's Musalem at 17:40 UTC. Tomorrow's schedule brings a block of high-impact consumer data at 14:00 UTC, headlined by the Michigan Consumer Sentiment Index, which carries an estimate of 47.6 against a previous reading of 48.1. That same 14:00 UTC block tomorrow includes the Michigan Consumer Expectations Index (previous 46.3), the 5-year Consumer Inflation Expectation (previous 3.4), and the 1-year Consumer Inflation Expectations (previous 4.6).

Recent newsflow highlights broad equity market declines and mounting pressure on technology shares stemming from climbing interest rates, as reported by publishers including Invezz, Seeking Alpha, and The Wall Street Journal. News sentiment metrics from an independent data provider show a media mood of 100 out of 100, composed of a 68% bullish and 32% bearish share, though a separate opportunity read assigns a bearish score of -31.

As of the week to September 29, CFTC positioning data shows speculators reduced net long Nasdaq 100 (US100) exposures. The large speculator segment finished that period 73% long and 27% short. Providing broader market context, US Treasury yields at the daily close on October 7 recorded the 10-year yield up 1 basis point to 5.28% and the 2-year yield down 2 basis points to 4.77%.

Bottom Line

The Nasdaq 100 transitions through the session overlap testing support near the 31000 threshold. With conflicting trends across the timeframes, the technical structure remains neutral until a confirmed breakout materializes. Directional momentum relies on holding S1 at 30941.2 or reclaiming the daily pivot at 31107.4 as the North American hours unfold.