Over the last month, the Nasdaq 100 advanced by 2.9%, driven by expectations of lower Fed rates. The contributors are mainly in the microprocessor sector, such as Micro Technologies, which grew by 42% over the same period, and Western Digital (+38%).
Tesla also rebounds, during this monthly sequence, by recovering more than 15%. On the other hand, Netflix disappoints and loses more than 16%.
Graphically, in daily data, prices stabilize towards the highs at 7970 points, supported by the 20-day moving average. The trend therefore remains very bullish and a stabilization of prices could be followed by an acceleration towards new historical highs, above 8000 points.
A sharp decline below 7740 points, initially, and then below 7450 points, would be required to neutralize the current configuration. This provides a real margin of possible fluctuations, without changing the momentum.