Current Trend
The NQ 100 is currently consolidating around 30,137.0 following reports that representatives of Lebanon and Israel have reached an agreement to observe a ceasefire, conditional on a complete halt to attacks by Hezbollah and the establishment of pilot zones under the full control of the Lebanese Armed Forces.
The US State Department, which is mediating the negotiations, also stated that both sides have committed to continuing direct talks aimed at building trust, resolving outstanding disputes, and working toward a comprehensive agreement. These developments are viewed as a potentially important step toward a broader peace framework involving the key parties in the wider Middle East conflict—the United States and Iran.
Additional optimism was generated by recent comments from US President Donald Trump, who stated that Iranian authorities had agreed to halt the development of their nuclear program. This has strengthened investor expectations for an eventual stabilization of the regional situation, despite limited hostilities continuing in the area.
The NQ 100's short-term corrective trend was established the previous day following the release of weaker US labor market data. Initial jobless claims rose to 225.0K from 212.0K the previous week, while the four-week moving average increased to 214.75K from 208.25K.
At the same time, Challenger, Gray & Christmas reported that announced layoffs increased from 83.387K to 97.006K—the highest level since May 2020—as companies continue restructuring operations around the AI-driven economy. Nevertheless, US employers have announced 397.76K job cuts since the beginning of the year, 43.0% below the same period last year, when layoffs reached a record level, largely driven by federal agencies.
Investors also remained focused on Q1 corporate earnings. Broadcom Inc., one of the largest US semiconductor manufacturers, reported revenue of $22.19B, up from $15.00B during the same period last year. Earnings per share came in at $2.44, compared with $1.58 previously.
In the bond market, the corrective trend in Treasury securities remains in place. The yield on one-year Treasury bonds currently stands at 3.807%, compared with 3.798% last week. The 10-year yield has risen to 4.474% from 4.444%, while 20-year and 30-year yields stand at 4.982% and 4.979%, compared with 4.995% and 4.997%, respectively.
The leading gainers in the index are Marvell Technology Inc. (+8.11%), Axon Enterprise Inc. (+6.59%), Old Dominion Freight Line Inc. (+4.01%), Alphabet Inc. Class C (+3.82%), and Alnylam Pharmaceuticals Inc. (+3.78%).
The biggest decliners include Broadcom Inc. (–12.59%), Micron Technology Inc. (–7.74%), Arm Holdings ADR (–4.47%), SanDisk Corp. (–3.92%), and CrowdStrike Holdings Inc. (–3.81%).
Support and Resistance
On the daily chart, the NQ 100 remains within a broader corrective phase and is attempting to move toward the lower boundary of the ascending channel, which currently spans approximately 30,700.0–29,500.0.
Technical indicators have yet to signal a reversal and continue to maintain a stable buy bias. The fast EMAs of the Alligator indicator remain positioned significantly above the signal line, while the AO histogram continues to print corrective bars moving further away from the zero line.
Support levels: 29,800.0; 28,560.0
Resistance levels: 30,650.0; 31,900.0
Disclaimer
Educational example only. Signals are not financial advice; trade at your own risk.