Nasdaq Composite Rebounds Above Key Hourly MAs

The latest rebound has pushed price back above the 100-hour moving average at 26,292.60 and the 200-hour moving average at 26,347.94, with today’s low at 26,363.79 still holding above both levels. That leaves near-term momentum in buyers’ hands for now, but only if the index can keep defending that zone.

For investors, the setup matters because these are the levels that often define whether a pullback becomes a deeper correction or just a reset inside a broader uptrend. A hold above the hourly moving averages suggests the selloff may have been a flush into support, while a failure would quickly shift attention back to 26,123.33, the 61.8% retracement, and then to 26,042.52, the daily 100-day moving average.

The bigger ceiling remains unchanged. Sellers have repeatedly capped rallies in the 26,676.31 to 26,856.24 band, and the index has now tested that area 11 times since spring without a clean break. A sustained close above 26,856.24 would be the clearest sign yet that buyers have finally worn down the resistance.

The move comes as tech shares remain highly sensitive to rates and risk appetite, with traders also watching whether Federal Reserve policy can extend the support recent AI-led strength has given the broader complex. If the Nasdaq Composite loses the hourly moving averages again, the next leg lower could reopen the deeper 25,799 to 25,190 swing area that Wednesday’s decline briefly probed.