Nasdaq 100

Key insight

29,679 consolidates just below the 30,000 round-number ceiling; a weekly close above it opens the 2026 extension target near 31,200. Failure to clear 30,000 risks a pullback to 28,900 (50-day MA).

29,679 holds above the 50-day MA near 28,900 with the index up ~0.2% — Gold at $4,382 and BTC +5.9% signal broad risk-on; tech leadership intact as long as 29,200 support holds.

Main risk

Fed policy pivot reversal risk

Sticky inflation or a hawkish Fed surprise could push 10-year yields back above 4.5%, compressing Nasdaq multiples and breaking 28,900 support.