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NASDAQ index is a stretching to a new high for the day with a gain of around 100 points
Although the NASDAQ is higher by roughly 100 points at the time of this recording, the performance beneath the surface is far from uniform. Some of the index’s largest heavyweight stocks are posting solid gains, while others are under pressure. In this video, I break down the technical picture for Nvidia, Amazon, Alphabet, Microsoft, and Meta using the same hourly chart framework, focusing on key moving averages and Fibonacci retracement levels. By applying a consistent technical approach, it becomes easier to identify the short-term bias, define the key risk levels, and highlight potential targets if momentum continues in the direction of the prevailing trend.
Nvidia (NVDA) Nvidia shares are leading the group higher, up about 4.25% on the day. The rally has pushed the stock back above its 100-hour moving average at $220.46 while also increasing the distance from its rising 200-hour moving average at $212.89. The stock has reached a session high of $222.17, putting buyers firmly back in control in the short term. As long as the price remains above both moving averages, the technical bias stays tilted to the upside. The next major objective remains the all-time high reached last month near $436.54. A move back below the 100-hour moving average would weaken the bullish outlook and give sellers a foothold.
Amazon (AMZN) Amazon is moving in the opposite direction, down 2.67%, or $7.24, at $263.32. The decline has pushed the stock back below both its 100-hour moving average at $266.64 and its nearly converged 200-hour moving average at $265.62. Those two averages now become the key barometer for short-term direction. If the price can reclaim and hold above that moving-average cluster, buyers would regain control. However, as long as the stock remains below those levels, sellers are likely to maintain the advantage with the next downside target coming near the May 19 low around $255.
Alphabet (GOOGL) Alphabet shares are also under pressure, down roughly 1.27% at $375.60. Today's decline has taken the stock further away from its 100-hour moving average at $390.68, a level that repeatedly acted as resistance on May 20, May 21, May 27, and May 28. The stock has also slipped back below its 200-hour moving average at $378.68, shifting the short-term bias back to the downside after failing to sustain a break above those key technical levels. If the price remains below the 100- and 200-hour moving averages, sellers will likely target the 38.2% retracement of the rally from the March 31 low at $356.47. A move back above the 200-hour moving average would neutralize the bearish bias, while a break above the 100-hour moving average would be needed to restore a more bullish outlook.
Microsoft (MSFT) Microsoft continues to show impressive upside momentum, gaining about 2.3% and extending its rally for a third consecutive trading day. The move higher began on Thursday when the stock broke decisively above a cluster of support and resistance levels, including the 100-day moving average at $413.53 and both the 100-hour and 200-hour moving averages near $419.30. Friday's advance carried the stock to the 38.2% retracement of the decline from the July 30 high at $433.10, where buyers successfully maintained control. Today's rally has pushed the price above the 50% retracement level at $456.64 and above the 200-day moving average at $458.16. With the stock currently trading around $460.60, buyers remain firmly in control. The key risk level now comes in at the 50% retracement level. A move back below $456.64 would weaken the bullish case and suggest that the upside momentum is beginning to fade.
Meta (META) Meta is another large-cap stock under pressure today, with shares down 2.58% at $616.17. Like several of the other weaker NASDAQ names, the decline is threatening to tilt the short-term bias back to the downside. The stock has moved away from its 100-day moving average at $634.91, a level that capped the rally on Thursday after buyers briefly broke above it on Wednesday but failed to sustain the momentum. The price is also trading below its 200-hour moving average at $626.97, reinforcing the bearish tilt. Earlier today, Meta fell below its 100-hour moving average at $612.65 and reached a low of $609.03 before finding willing buyers. That rebound has pushed the stock back above the 100-hour moving average, leaving the price trading between the 100-hour and 200-hour moving averages in a more neutral zone. Traders will be watching the 100-hour moving average at $612.65 as a key support level. Staying above that level keeps buyers in the game, while a move back below would strengthen the sellers' case. On the topside, a move above the 200-hour moving average at $626.97 and then the 100-day moving average at $634.91 would be needed to shift the bias back in favor of the buyers and signal that bullish momentum is returning.
This article was written by Greg Michalowski at investinglive.com. -
How has the rise in the USD impacted the technicals for the USDCAD, AUDUSD and NZDUSD?
As the USD moves higher after the news headlines that Iran was to stop exchanging messages with the US in protest against "Israeli crimes", has sent oil higher, yields higher, stocks lower and the USD higher. The USDCAD, AUDUSD and NZDUSD have been solid movers with the USDCAD the least impacted with a decline of -0.34%, but the AUD at -0.62% and the NZD at -1.20% are some of the biggest decliners on the day (vs the USD).
USDCAD: The USDCAD has staged a solid technical rebound today, pushing back above a key cluster of moving averages that had previously acted as resistance. The pair has moved above its rising 200-hour moving average at 1.3801, the 200-day moving average at 1.3812, and the 100-hour moving average at 1.38155. The rally has extended to a high of 1.3849 so far, putting buyers firmly back in control in the near term.
As long as the price remains above this moving-average cluster, the technical bias stays tilted to the upside. The next key target comes in a swing area that capped rallies in late March and early April between 1.3868 and 1.3877. A break above that zone would increase the bullish momentum and open the door for a deeper retracement of the broader decline. Conversely, a move back below the moving-average cluster would weaken the bullish outlook and give sellers a reason to reassert control.
AUDUSD: The AUDUSD rallied strongly last week, climbing back above both its 200-hour and 100-hour moving averages, currently at 0.71515 and 0.71559 respectively. However, the advance stalled on Friday when buyers ran into a key swing area between 0.7194 and 0.7200. The inability to break through that resistance zone attracted sellers and led to a modest pullback into the close.
In trading today, price action was choppy during the Asian-Pacific session, but momentum shifted decisively lower over the last few hours as the U.S. dollar strengthened on headline-driven buying. That move pushed the AUDUSD back below both the 100-hour and 200-hour moving averages, with the pair falling to a low of 0.7136 before rebounding slightly to trade near 0.7140.
With the price now below both key moving averages, the near-term technical bias has shifted back in favor of the sellers. As long as the pair remains beneath those levels, downside risks remain elevated. The next target comes in a swing area between 0.7100 and 0.7113. A break below that support zone would increase the bearish bias further and put the May low at 0.70789 firmly in the sellers' sights.
NZDUSD: The NZDUSD surged higher last week as risk-on sentiment fueled demand for commodity-linked currencies. From a technical perspective, the pair found support near the 50% midpoint of the trading range from the early-April low at 0.58334, then climbed back above its 100-hour and 200-hour moving averages before accelerating sharply higher on Thursday and Friday. The rally carried the price above the early-May high at 0.59899, reaching a new monthly high before consolidating near the peak into the weekend close.
Today, however, the tone has shifted. The pair has trended lower from the start of trading, with downside momentum accelerating over the last few hours as the U.S. dollar strengthened. The decline has pushed the price below a key swing area between 0.5918 and 0.5928, turning that zone into near-term resistance. As long as the price remains below that area, sellers hold the short-term advantage.
On the downside, the rising 100-hour moving average at 0.5914 has become an important battleground. The price briefly dipped below that level to a low of 0.5912, but buyers have emerged to defend the moving average and limit further losses. As a result, a short-term tug-of-war is developing between support at the 100-hour moving average and resistance in the 0.5918–0.5928 zone. While sellers have regained some control, it is worth noting that the current decline has so far only retraced back toward moving-average support levels that were reclaimed during last week's strong rally. A sustained break below the 100-hour moving average would be needed to strengthen the bearish case further.
This article was written by Greg Michalowski at investinglive.com. -
The USD moves higher as oil, yields move higher and stocks open lower on the day
The USD has moved higher on the back of headlines that Iran will stop exchanging messages with US in protest against "Zionist crimes" largely in Lebanon.
The price of oil has moved higher and moved toward the 200 hour MA at $93.76. Getting above that MA would be the first break since May 21 and increase the buyers control technically.
Gold has turned lower and, in the process, has broken below both its 200-hour moving average at $4,508.45 and its 100-hour moving average at $4,488.80. Earlier in the session, buyers were able to defend the 100-hour MA, but the rebound ran into willing sellers near the 200-hour MA. That failure to sustain upside momentum helped pave the way for the subsequent break lower.
With the price now trading beneath both key moving averages, the technical bias has shifted in favor of the sellers. The 100-hour and 200-hour MAs now serve as close resistance levels, and as long as the price remains below them, sellers maintain the near-term advantage. A move back above those levels would be needed to weaken the bearish outlook and give buyers a reason to regain control.
US stocks are trading marginally lower after being higher in pre-market trading. The major indices are each down about -0.10% on the day.
- Dow -0.11%
- S&P -0.08%
- Nasdaq -0.12%
Yields are higher with the 10 year yield back above the 4.50% level at 4.510% (up 5.7 basis points). The 2 year is comfortably above the 4.0% level with a gain of seven basis points at 4.084%. The 30 year is up 3.1 basis points and back above the 5% level at 5.024%
The USD is higher and making technical tests/breaks to the upside. In the video above, I take a look at the EURUSD, USDJPY, GBPUSD and the USDCHF from a technical perspective an outline the bias, the targets, and the risk levels after the moves to the upside.
This article was written by Greg Michalowski at investinglive.com. -
US dollar holds steady amid rising tensions in Middle East
The USD is higher but little changed vs most of the major currencies. It is trading above and below unchanged vs the GBP, and up vs the EUR and the JPY by about 0.13% to start the North American session.
Over the weekend, the U.S. carried out "self-defense" strikes on Iranian radar and drone command-and-control sites, saying the action was a response to Iran shooting down an American MQ-1 drone. Iran retaliated with its own strikes, and large protests broke out in Tehran as demonstrators gathered at Revolution Square to condemn the U.S. and Israeli attacks. Kuwait also intercepted hostile missiles and drones as the violence rippled across the region.
On the diplomatic side, peace negotiations remained stalled as President Trump sent back the draft ceasefire deal demanding tougher terms — specifically stronger language on Iran's nuclear commitments and the reopening of the Strait of Hormuz. This came just days after Trump had publicly declared the deal "largely finalized," and the reversal frustrated mediators and regional allies who had been pressing both sides to hold the line and avoid a return to full-scale combat.
The EURUSD has seen a choppy, back-and-forth session after Friday’s bullish move above the 200-day moving average at 1.16808 and the broken 38.2% retracement level. Buyers have struggled to build on that breakout, leading to a pullback that has taken the pair back toward key near-term support. The low price today reached 1.1642, putting the focus on the 100-hour moving average at 1.16378 and the 200-hour moving average at 1.16287. Those moving averages represent the next important downside targets and a break below them would give sellers more control.
On the topside, the pair faces a resistance zone between 1.16469 and 1.16669. Buyers need to push back above and stay above that area to regain momentum and shift the focus back toward Friday’s highs and the 200-day moving average. Until then, the EURUSD remains trapped between key support and resistance levels, with traders looking for the next catalyst to determine the next directional move.
The technical story for the USDJPY is defined by support at the 100 hour MA at 159.355 and the 200 hour MA at 159.174. On Friday, sellers took the pair below both with a break of the 200 hour MA by a few pips, but like the EURUSD failure, the USDJPY also failed on the break. That MA (along with the 100 hour MA) remains a key support target. On the topside, the swing area between 159.70 and 159.96 are the next upside targets to get to and through to increase the bullish bias and have traders looking toward the May high (when concerns about interventions sent the pair tumbling to 155.00 area.
The GBPUSD like the EURUSD, has seen up and down price action today (see chart below). ON the downside, the low reached 1.3446 and found support near the 100 and 200 hour MAs near 1.3439 to 1.3443. Those MAs and the 200 day MA at 1.34208 are key downside targets to get to and through to increase the selling bias.
On the topside, the 100 day MA at 1.34749 remains a key target to get to and through. The high reached 1.3476 today - just above that MA, but backed off. Getting and staying above is more bullish. Staying below, and the bias is to the downside.
The greenback is the strongest vs the NZD (although it is a holiday in New Zealand today and higher stock prices). The NZDUSD is down -0.56% on the day. Tee fall comes after stretching above the high from May at 0.58899 on Friday to the highest level since March 2 with a rise to 0.5993, but momentum failed and the price moved below the old high into the close of the week. Today, the price moved lower in the Asian session and has recently traded at the session lows as traders push back to the downside off of the failure.
Looking at other markets, the US stocks are higher in pre-market trading with the:
- Dow up 235 points
- S&P up 24 points
- Nasdaq is up 85 points
In the US debt market, the US yields are mixed with the shorter end up and the longer end (30 year) lower.
- 2 year trading above 4.00% at 4.0369% or 2.3 basis points
- 10 year is trading at 4.461% up 0.8 basis points
- 30 year trading at 4.981% down -0.11 basis points. Staying below the 5.00% level keeps the downside the bias in control
The price of crude oil moved to a low of $86.35 on Friday, and bounced. Today the low has come in at $88.35 but is back above the $90 currently at $90.20. THe 100 hour MA is at $90.29 with the price trading above and below that MA target and bias defining level. Move above and stay above is more bullish but buyers are being tested by sellers near the MA level currently. Traders are awaiting the next shove. PS on the downside the 50% of the move up from the December 2025 low comes in at $87.29. Below that, and traders will start to eye the 100 day MA at $83.67.
This article was written by Greg Michalowski at investinglive.com. -
Nasdaq technical analysis today at investingLive.com (see update)
Nasdaq futures technical analysis: NQ repairs from lower-value damage, but bulls still need acceptance above 30536
Key takeaways
See updates below this 'Key Takeaways' section
NQ JUN26 has repaired strongly from the May 28 lower-value damage, but the move is not yet a clean bullish takeover.
The current prediction score is +2 / +10, with medium confidence.
The key upside gate is 30500-30536. Bulls need acceptance above that zone to improve the probability of continuation.
The latest Sunday evening recovery is constructive, but lighter ETH participation means traders should avoid overstating the bullish signal.
A loss of 30334-30320 would weaken the repair and shift the next-auction risk back toward bearish mean reversion.
Nasdaq futures update - 16:29 CEST, Monday, 1 June 2026
The latest NQ JUN26 300 Range chart keeps the Nasdaq futures read in a neutral to mildly bearish tactical state, rather than a clean bullish reversal.
NQ repaired from the 30,275-30,300 support area and moved back toward the current VWAP region near 30,403, but that repair is now testing a key decision zone. The market still needs to reclaim and hold above 30,403, then accept above 30,475, to improve the bullish case.
Until that happens, the bounce should be treated as a repair attempt inside a still-fragile intraday auction, not a confirmed buyer takeover.
Updated tradeCompass view:
Prediction Score: -1 / +10
Bullish upgrade above: 30,475
Decision zone: 30,403-30,475
Bearish warning below: 30,342-30,339
Stronger bearish below: 30,275
If NQ accepts above 30,475, upside targets are 30,541, then 30,608, with 30,650-30,675 possible if momentum expands.
If NQ fails at VWAP and loses 30,342-30,339, the lower repair starts to weaken. A break below 30,275 would be a stronger bearish signal, opening the door toward 30,209, then 30,150, and potentially 30,075-30,000 if downside pressure accelerates.
For now, the key message is simple: NQ has bounced, but it has not yet proven bullish acceptance. The next important test is whether buyers can hold above 30,403 and reclaim 30,475.
Previously reported: Quick verdict
NQ JUN26 has repaired meaningfully from the May 28 lower-value damage, but the latest sequence is still better described as bullish repair into congestion rather than a clean bullish takeover.
The market is no longer in bearish control by default. However, bulls have not yet proven sustained acceptance above the 30500-30536 upper gate. That makes the current read neutral to mildly bullish, not aggressively bullish.
Prediction Score: +2 / +10Confidence: Medium
What is the current market state for NQ futures?
The current market state is bullish repair with congestion overhead.
That means price has recovered from the prior selloff, value has migrated higher, and buyers have regained some control. But the recovery is now testing an important congestion and rejection zone, where earlier upside attempts failed to produce clean continuation.
This distinction matters. A repair phase can reduce bearish risk without automatically creating a high-confidence long setup. In this case, NQ has done enough to make aggressive shorts less attractive by default, but not enough to confirm a strong upside continuation phase.
Why the May 28 damage still matters
The broader sequence started with real downside pressure. NQ moved from the 30060 area down through 29950, 29888, and eventually toward the 29763-29813 lower zone.
That decline was not just a visual pullback. It was supported by weaker auction behavior, negative delta, negative cumulative delta, and lower HVNs. In simple terms, the market accepted lower value before the later recovery started.
That is important because it tells us the market was damaged first, then repaired later. The current bullish case is therefore not starting from clean strength. It is starting from a recovery attempt after prior weakness.
How did the bullish repair develop?
After price stabilized near the 29763-29813 area, NQ began to rotate higher. The repair became more meaningful as price reclaimed 30000, then 30100, then the 30200-30300 area.
The most important constructive evidence was the upward migration in HVNs. Earlier high-volume nodes were clustered near the lower zones, but later auction activity shifted toward the 30300-30465 region.
That matters because HVN migration helps show where the market is comfortable doing business. A quick price spike can be misleading, but when volume starts building at higher prices, it suggests the auction is accepting higher value.
In this case, that higher-value repair is real. It is the main reason the bearish case is no longer dominant.
Why is the 30500-30536 zone so important?
The 30500-30536 area is the main unresolved upper gate.
On May 29, NQ pushed into that zone and reached approximately 30536, but the market failed to sustain above it. After that upside attempt, price rotated back down into the broader 30300-30440 balance region.
That is the main reason this article does not classify the chart as a clean bullish breakout.
For a stronger bullish continuation signal, traders would want to see NQ accept above 30536, hold that area on a pullback, and keep HVNs migrating above roughly 30485-30500. Without that, the risk remains that the market is simply rotating inside an upper congestion band.
What does the latest Sunday evening sequence show?
The latest Sunday evening bars are constructive, but not decisive.
Price recovered from roughly 30365.75 to 30436.25, then toward 30496.75. Delta improved from negative to positive, and the latest HVN shifted higher toward the 30465 area.
That supports a mildly bullish read for the next auction. However, these are lower-participation ETH bars, not full RTH institutional confirmation. For that reason, the signal should be respected, but not overvalued.
The best interpretation is that the latest ETH action repaired price back into the upper balance zone. It did not yet prove a full bullish takeover.
NQ futures key levels to watch
tradeCompass map for NQ futures
For the next auction, I would treat NQ as mildly bullish above 30440-30465, but not strongly bullish until price accepts above 30536.
Bullish scenario
The bullish case improves if NQ accepts above 30536 and holds that area on a retest.
If that happens, the path opens toward 30590-30625, followed by 30660-30700 if momentum expands.
The better long setup is not necessarily to chase a late push into resistance. A cleaner setup would be a breakout above 30536, then a pullback that holds above the same zone or above 30485-30500 with stable order flow.
Bearish scenario
The bearish case becomes more relevant if NQ rejects the 30500-30536 zone and returns below 30400.
The first major bearish confirmation comes on acceptance below 30334-30320. If that develops with negative delta, lower HVNs, and weak Delta SL, the market could rotate toward 30275-30260, then possibly 30226-30200.
The key bearish idea is not simply that price is near resistance. The better bearish case requires failed acceptance above the upper gate, followed by downside confirmation back into the prior balance.
What would upgrade the prediction score?
The score can move from +2 toward +4 or +5 if NQ does the following:
Accepts above 30500-30536.
Holds that zone on a pullback.
Keeps HVN migration above roughly 30485-30500.
Shows positive or at least non-damaging Delta SL on the retest.
Avoids immediate rejection back below 30440.
That would turn the current repair into a more convincing bullish continuation setup.
What would invalidate the current mildly bullish read?
The current read would weaken if NQ loses 30400-30390 and fails to reclaim it.
A stronger bearish shift would require acceptance below 30334-30320. That would suggest the latest ETH recovery was only a liquidity lift inside unresolved upper distribution.
In that case, the score could move toward -2 to -3, especially if the move lower comes with negative delta, lower HVNs, and weak buyer response.
Educational note: why repair is not the same as takeover
A common mistake in futures trading is to treat every recovery as a confirmed bullish breakout. But auction markets often move through phases.
A repair means price has recovered from prior damage and reduced bearish pressure. A takeover means buyers have accepted higher value and forced sellers to defend from a weaker position.
In this NQ setup, the market has clearly repaired. But the takeover still requires proof above 30536.
That is why the score remains only +2 / +10. The chart is constructive, but not yet decisive.
Bottom line for NQ futures traders
NQ JUN26 has repaired enough that aggressive shorts are no longer favored by default. However, bulls still need to prove acceptance above 30536 before this becomes a higher-confidence upside continuation setup.
For now, the practical read is:
Mildly bullish above 30440-30465, neutral inside 30390-30440, and bearish risk rising below 30334-30320.
The most important test is whether the market can convert the 30500-30536 zone from resistance into accepted value. Until that happens, this remains a bullish repair into congestion, not a clean bullish takeover.
This article was written by Itai Levitan at investinglive.com.