The Nasdaq is more impacted than its index partners, through the exposure of its components to the Chinese market. Since its recent low of August 23, the index has gained more than 5%, driven by semiconductor companies such as LAM Research (+10%), Applied Materials (+9%) and Intel (8%).
Graphically in daily data, the index was contained in a broad lateral trend bounded by the top at 7740 points and the bottom at 7420 points. The Nasdaq shows bullish tendencies when trying to cross the top line. A "day close" would pave the way for recent historical peaks at 8,000 points. On the other hand, a return below 7740 points would revive the lateral consolidation movement.