Major U.S. stock indices have pushed to fresh session lows as the clock ticks toward the 4:00 PM ET close. The Nasdaq Index has fallen to a new intraday low of 26,404.16, bringing it closer to a key technical support zone.
The latest dip has taken the index to within striking distance of its 100-hour moving average at 26,380.94. Just below that sits the 200-hour moving average at 26,298.71, creating an important support area for buyers. If the bullish bias is to remain intact, traders will want to see the Nasdaq hold above this moving-average cluster. A break below would weaken the near-term technical picture and could give sellers more control heading into the close and into tomorrow’s trade.
Today, the QQQ index is getting hammered with the index currently down -1.50% leading to the declines in the Nasdaq. The top 10 holdings in the QQQ are:
- NVIDIA Corporation – 8.10%
- Apple Inc. – 7.10%
- Microsoft Corporation – 4.90%
- Micron Technology, Inc. – 4.90%
- Amazon.com, Inc. – 4.30%
- Advanced Micro Devices, Inc. – 3.60%
- Alphabet Inc. Class A – 3.40%
- Tesla, Inc. – 3.20%
- Alphabet Inc. Class C – 3.10%
- Broadcom Inc. – 2.90%
The top 10 holdings account for approximately 45.5% of the total QQQ ETF.
Looking at the how those 10 are doing today:
- NVIDIA (NVDA): -1.66%
- Apple (AAPL): +0.63%
- Microsoft (MSFT): -1.65%
- Micron Technology (MU): -4.42%
- Amazon (AMZN): +0.07%
- Advanced Micro Devices (AMD): -5.53%
- Alphabet Class A (GOOGL): +0.84%
- Alphabet Class C (GOOG): +0.89%
- Tesla (TSLA): -1.03%
- Broadcom (AVGO): -3.62%
Summary: Among the top 10 QQQ holdings, AMD (-5.53%), Micron (-4.42%), and Broadcom (-3.62%) are the biggest drags, while Alphabet (+0.84% and +0.89%) and Apple (+0.63%) are among the leading gainers. Microsoft and NVIDIA are both lower by roughly 1.65%–1.66%.
The NASDAQ index is already bouncing and currently trades at 26478.04. That is still down -207 points or -0.78% in the day. What will the next 30 minutes do for the index?
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