NAS100 under pressure ahead of cash open
The NAS100 daily chart trades between the lower blue and red bands, a weak channel. Its stochastic is below 20 (green rectangle). This area denotes strong downwards momentum; therefore, the longer it maintains this position, the greater the likelihood of lower prices.
The hourly chart has turned bearish ahead of today's cash open. Its EMAs and stochastic have crossed negatively (black ellipses). Moreover, the hourly stochastic is tending toward 20. If it holds this position, the index will be under pressure.
The NAS100 is sensitive to interest rate movements due to the time value of money. As such, tomorrow's Fed hike is creating headwinds.
Russell Shor
Senior Market Strategist
Russell Shor is a Senior Market Strategist at FXCM, having been promoted to the role in 2025 in recognition of his depth of insight and consistent delivery of high-impact market analysis. He originally joined FXCM in October 2017 as a Senior Market Specialist.
Russell holds an Honours Degree in Economics from the University of South Africa, is a certified FMVA®, and a full member of the Society of Technical Analysts (UK). With over 20 years of experience in financial markets, his work is renowned for its clarity, precision, and strategic value across asset classes.
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