Nasdaq Composite Index Outlook 2026
Tech Stocks Face Key Support Test
Market Overview
Nasdaq slips below 50-day moving average
Tech shares retreat mid-session
Critical Pivot Level
23,178 is the key pivot
Break below may trigger more selling
Bullish Scenario
Holding above 23,178 allows recovery
50-day MA critical for stability
Futures Traders Are Active
Sustained drop below pivot could extend losses
Next support: 22,960–22,800
Tech Movers
Top decliners: Applovin, Intuit, Workday, Adobe, Palantir
Semiconductor stocks buck trend
Semiconductor Strength
ASML, Micron, Intel, Marvell leading tech rebound
AI demand fuels optimism
Broader Market
Dow gains, S&P flat
Sector rotation continues: Industrials & Utilities lead
Final Verdict
Rotation between tech & non-tech continues
Watch key support at 23,178 for direction
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