NASDAQ 100: Why recent pullback sets up 11% rally beyond new highs

Clay Webster FXStreet

The NASDAQ 100 just had its worst day in three weeks, but the monthly chart reveals 11% upside to long-term resistance at 29,000. Clay Webster breaks down why Thursday's pullback is a buying opportunity, not a reversal – analyzing Fed rate cuts, Big Tech earnings from Alphabet and Microsoft, breadth indicators, and the AI rally's remaining runway. Expect a retest of 24,500 support before the index charges higher into year-end.

Author

Clay Webster

FXStreet

Clay Webster grew up in the US outside Buffalo, New York and Lancaster, Pennsylvania. He began investing after college following the 2008 financial crisis.

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