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The US Nas 100 Index (a proxy for the Nasdaq 100 futures) has staged a significant accumulated return of 14% since the retest of its 200-day moving average on 26 October 2023.

Nasdaq 100 may continued to see further potential upside supported by softness seen in the US 10-year Treasury yield.

Rising geopolitical tensions, up trending US 10-year Treasury yield and market breadth deterioration may offset S&P 500 positive seasonality

The rally in risk assets such as global equities has started to show signs of wobbliness as the sentiment pendulum swung from over-pessimism in terms of earnings growth at the tail end of 2022 to over-optimism from June this year triggered by the safe haven status of the US mega-cap technology stocks in terms of their respective strong balance sheets reinforced by the artificial intelligence’s (AI) heightened productivity revolution that saw investors and traders bid up aggressively AI-related equities despite their market prices being “richly valued” above their historical mean valuatio...

The price actions of the US Nas 100 Index (a proxy for the Nasdaq 100 futures) have indeed shaped the expected decline and broke below the short-term support of 14,750. Thereafter, it continued to tumble and printed an intraday low of 14,445 on Wednesday, 29 September.