FundamentalOverviewThe Nasdaq Composite maintainedits upward trajectory following lower than expected US inflation figures andstrong US activity data. This positive growth impulse without concerninginflation developments (as of now) is keeping the upside intact given the lackof bearish drivers. Looking ahead, we have theAugust 1 tariff deadline that might keep the markets more on the defensive, butit certainly wouldn't be the first time that Trump postpones a deadline ortones down his threats. So, the probabilities are more skewed for positiveoutcomes. The risks ahead includeanother growth scare from tariffs or a more hawkish repricing in interest ratesexpectations. In the bigger picture though, given that the Fed's reactionfunction remains to either wait more or cut, the market should eventually getback to its upward trend.Nasdaq Composite Technical Analysis – Daily TimeframeOn the daily chart, we cansee that the Nasdaq Composite has been printing all-time highs consistently giventhe lack of bearish drivers. From a risk management perspective, the buyerswill have a better risk to reward setup around the previous all-time high at20,202 where we can also find a trendlinefor confluence.The sellers, on the other hand, will want to see the price breaking lower to increasethe bearish bets into the 19,200 level next.Nasdaq Composite Technical Analysis – 4 hour TimeframeOn the 4 hour chart, we cansee that the price is trading inside a rising channel. The buyers continue tolean on the lower bound of the channel to keep pushing into new highs, whilethe sellers are leaning on the upper bound to position for a breakout to thedownside and a deeper pullback into the 20,202 level.Nasdaq Composite Technical Analysis – 1 hour TimeframeOn the 1 hour chart, there’snot much else we can add here as the buyers will continue to lean on the lowerbound to target new highs, while the sellers will look for a break lower to openthe door for a bigger pullback. UpcomingCatalystsTomorrow we get the latest US Jobless Claimsfigures and the Flash US PMIs. This article was written by Giuseppe Dellamotta at investinglive.com.