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Trading conditions remain challenging for Nasdaq 100. Over the past five trading sessions, the index has declined by nearly 3.2%, reinforcing a meaningful bearish bias in the short term. Selling pressure has persisted even after the release of the Federal Reserve's minutes, while bond market yields continue to trade at elevated levels.
As the new trading week kicks off, a renewed bullish bias is taking hold of the Dow Jones. The index has already rallied nearly 3.00% over the last 3 sessions, creeping back toward key all-time highs.
A new bullish bias has started to gain relevance in the S&P 500, which is up 2.00% over the last two sessions, mainly supported by corporate earnings that have helped sustain short-term market confidence.
These continue to be difficult sessions for the Nasdaq 100. Over the last 4 trading sessions, the index has accumulated a decline of nearly -3.8%, once again highlighting a relevant short-term selling bias.
It has not been an easy stretch for the S&P 500. Over the last 5 trading sessions, the index has accumulated a decline of nearly -0.9%, while the broader outlook continues to show a phase of neutrality and indecision.
The trading week is coming to an end, and the Nasdaq 100 has shown important recovery attempts in the short term. Over the last 2 sessions, the index has posted a gain of just over 2.6%, trying to maintain some confidence in its recent movements.
The trading session has not shown a clear recovery in SPX price action. At the moment, the index is posting slight moves of around 0.1%, with no defined direction, despite the release of employment data in the United States.
As the second half of the year begins, short-term strength has become evident again in the Nasdaq 100. The index has gained more than 4.00% over the last two trading sessions, once again highlighting a relevant buying bias.
The week continues, and one of the main factors starting to stand out in the Nasdaq 100 is the recent loss of momentum near record highs. This move comes after a strong recovery at the beginning of the week and shows that buying pressure has not yet stabilized in the short term.
After starting the session with a relevant bearish bias, the Nasdaq 100 has managed to regain short-term strength and is up more than 2.5% on the day. This move has brought back a mild bullish tone to the market, although the broader backdrop remains sensitive.
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