The Nasdaq 100 experienced a significant reversal during yesterday’s trading session, surrendering early gains to close in negative territory. After hitting a fresh all-time peak, the index concluded the day down 107.24 points, or 0.43%, settling at 24,785.52. The session’s downturn was primarily driven by profit-taking activity that emerged as the trading day progressed.
Session Dynamics: Early Gains Erased
Trading commenced on a strong note with the index opening at 24,931.42 and rapidly ascending to establish a new intraday record of 24,958.26. This upward momentum proved short-lived, however, as selling pressure among major technology components dragged the benchmark down to a session low of 24,713.58.
Market activity metrics showed approximately 339.40 million shares changing hands, while the VIX volatility index registered a modest increase—indicating rising investor apprehension.
Daily Performance Leaders and Laggards
Technology sector constituents displayed divergent performance patterns, with semiconductor and artificial intelligence names demonstrating resilience while several heavyweight stocks exerted downward pressure.
Top Five Advancing Issues:
– Charter Communications (CHTR): +3.86%
– Diamondback Energy (FANG): +2.99%
– Biogen (BIIB): +2.98%
– Micron Technology (MU): +2.22%
– Intuitive Surgical (ISRG): +2.11%
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Top Five Declining Issues:
– Las Vegas Sands (LVS): -7.41%
– Applied Materials (AMAT): -3.00%
– Wynn Resorts (WYNN): -6.00%
– MercadoLibre (MELI): -2.50%
– Palo Alto Networks (PANW): -2.40%
Applied Materials attracted particular attention following its disclosure that updated U.S. trade regulations would negatively impact net revenue, triggering the stock’s decline exceeding 3%.
Technical Perspective Remains Constructive
Despite the session’s pullback, the Nasdaq 100 maintains position within a well-defined upward trajectory. The index continues to trade above its key moving averages, typically interpreted as a bullish configuration. The Relative Strength Index (RSI) holds within neutral territory, suggesting the benchmark is neither overbought nor oversold.
Critical support remains established at the 23,870 level, while yesterday’s peak of 24,958.26 now represents immediate resistance.
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