Nasdaq Holds on to Its Bullish Trend Nasdaq 100 SPOTCFI:US100CFITechnical Analysis of the Nasdaq: The attached chart highlights several positive technical factors in the Nasdaq Index’s price action, despite its decline over the past two trading sessions. The index has fallen by approximately 1.5% over the last two sessions but remains up 0.5% since the beginning of the current week, currently trading near the 31,000 level. So, what are the key positive technical factors at present? The overall trend remains bullish. The index continues to trade above all moving averages, both short-term and long-term. Importantly, the index remains firmly above the previous high and resistance level near 30,760. Trading above the 30,000 level is another positive factor, as this level represents a previous price low. In conclusion, any pullbacks that remain above the aforementioned levels do not necessarily signal a genuine deterioration in price action. Instead, they can be viewed as corrective waves within an ongoing uptrend. Fundamental Analysis of the Nasdaq: The index declined over the past two trading sessions after technology stocks came under pressure following reports that OpenAI’s revenue was falling short of expectations, raising concerns about investment in artificial intelligence. Meanwhile, rising oil prices, inflation concerns, and the possibility of tighter monetary policy have also weighed on price action. Despite these negative factors, the strength of the current uptrend continues to outweigh the prevailing headwinds, with underlying market fundamentals remaining a key driver. This brings us to the following question: Will prices maintain their positive momentum, or could a shift in investors’ risk appetite completely change the outlook?