Nasdaq Surges 5.91% to $93.50 as Technical Indicators Flash Bullish Signals

Comprehensive Technical Analysis for Nasdaq (NDAQ)
Candlestick Theory
Nasdaq's recent price action reveals significant bullish signals. The most recent session formed a robust white candle with a 5.91% surge, closing near the high at $93.50 after testing resistance near $95.49. This follows a hammer pattern on 2025-07-18 (low: $86.36, close: $89.37), signaling reversal potential. Key resistance is evident at $95.50 (recent high), while support converges at $89.60–$88.28 (previous swing lows and consolidation zone). A decisive break above $95.50 may confirm bullish momentum.
Moving Average Theory
The 50-day moving average (~$80.50) maintains an upward trajectory above the 100-day (~$78.80) and 200-day (~$75.30) averages, confirming a long-term uptrend. Short-term dynamics show the price reclaiming all major averages after the 2025-07-18 dip tested the 50-DMA. The alignment of shorter averages above longer ones suggests sustained bullish structure. A "golden cross" (50-DMA above 200-DMA) remains intact, reinforcing trend strength.
MACD & KDJ Indicators
MACD (12,26,9) shifted to positive territory on 2025-07-23, with the histogram expanding upward—a bullish crossover signaling accelerating momentum. KDJ shows the %K line (82.3) crossing above %D (76.5) in overbought territory (>80), indicating strong near-term momentum. However, the KDJ overbought condition warrants monitoring for potential pullbacks, though divergence is absent.
Bollinger Bands
Price recently surged above the upper Bollinger Band ($92.50, 20-day SMA ±2σ), reflecting heightened volatility and bullish momentum. The prior contraction in bands (late June to mid-July) culminated in this expansion, validating breakout potential. While extended moves beyond the upper band may foreshadow short-term consolidation, the band expansion supports continued volatility-driven upside.
Volume-Price Relationship
Volume surged 76% to 8.38 million shares during the 5.91% rally, confirming buyer conviction. Preceding declines (e.g., 2025-07-23) occurred on below-average volume, suggesting limited selling pressure. Accumulation is evident since the 2024-10-07 low ($70.87), where volume spikes consistently accompanied upward moves. Current volume validates bullish sustainability, though resistance tests require ongoing volume support.
Relative Strength Index (RSI)
RSI (14-day) calculates to 65.2, hovering below overbought (>70) but indicating strengthening momentum. Earlier dips in late June saw RSI approach oversold (<30), aligning with price rebounds. While not yet overbought, RSI’s ascent warrants caution if it breaches 70 without consolidation. No bearish divergence is present, supporting the uptrend.
Fibonacci Retracement
Applying Fibonacci to the March 2024 low ($64.97) and April 2025 high ($95.49): The 61.8% retracement level at $86.60 provided critical support during the July pullback. Current price action has breached the 38.2% level ($90.80), targeting the 23.6% resistance at $92.50, which aligns with the Bollinger Band breach. Confluence between Fibonacci and recent resistance suggests $92.50–$95.50 as a decisive zone for trend continuation.
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Concluding Synthesis
Confluence is strongest between volume-backed price action, moving averages, and MACD/KDJ momentum signals, collectively supporting a bullish bias. Key resistance at $95.50 represents the immediate hurdle; a sustained breach may trigger further upside toward psychological $100. Caution arises from KDJ overbought readings and RSI nearing 70, which may precede consolidation. Divergence is absent across indicators, reinforcing trend cohesion. Probabilistically, Nasdaq favors upside continuation near-term, with $89.60–$88.28 acting as critical support. Monitor volume and RSI for sustainability signals.