USNAS100 – Powell Caution Keeps Nasdaq in Tight Range

USNAS100 – Overview

Futures tied to the S&P 500 and Nasdaq edged slightly higher on Wednesday as investors weighed measured comments from Fed Chair Jerome Powell and looked ahead to key U.S. economic data later this week.
Powell acknowledged that asset prices appear highly valued, while maintaining a cautious tone on the labor market. He avoided taking sides between Fed officials calling for deeper cuts to support jobs and those urging restraint to avoid inflation risks, emphasizing instead the delicate balancing act between growth and price stability.

📊 Technical View

The Nasdaq100 is showing range-bound price action, with consolidation likely to continue until a clear breakout occurs.

Bearish Scenario:
Price is expected to test the resistance zone around 24,810 before pulling back toward 24,560.
🔻 A confirmed 15-min close below 24,560 would expose deeper supports at 24,380 → 24,140.

Bullish Scenario:
A decisive break above 24,900 would invalidate the bearish setup and open the way toward 25,040.
An hourly close above 24,900 would confirm renewed bullish momentum.

Key Levels
Pivot: 24,660
Resistance: 24,810 – 24,900 – 25,050
Support: 24,560 – 24,380 – 24,150