Key takeaways
- Nasdaq 100 remains in a bullish structure despite short-term volatility driven by US–Iran geopolitical tensions and profit-taking, with price action stabilising above key support at 28,280.
- Market sentiment was briefly pressured by conflict-related headlines, but losses were largely recovered as ceasefire stability expectations improved and risk appetite returned.
- Market breadth is healthy but not euphoric, with broad participation across components and technical indicators supporting near-term upside continuation.
The US stock market saw profit-taking on Thursday, 7 May 2026, as traders grew increasingly concerned over the fragility of the month-long US-Iran ceasefire after both sides exchanged fire.
Market sentiment was further unsettled by uncertainty surrounding Washington’s latest proposal to Iran to reopen the Strait of Hormuz, which Tehran has yet to respond to.
The leading Nasdaq 100 dropped by 1.3% intraday from its all-time intraday high of 28,825, but trimmed its losses to end Thursday’s US session with a marginal loss of only 0.1% and underperformed against other US stock indices; S&P 500 (-0.4%), Dow Jones Industrial Average (-0.6%), and small-cap Russell 2000 (-1.6%).
In today’s (Friday, 8 May 2026), the Nasdaq 100 E-min futures recovered by 0.5% at this time of writing and almost recovered Thursday’s US session losses, reinforced by US President Trump’s remarks that stated the ceasefire agreement “remains intact”.
Aside from this piece of “Trump’s positive news flow”, several technical elements are also advocating for another potential round of fresh short-term bullish impulsive up move sequence for the Nasdaq 100.
Let’s decipher them.
Nasdaq 100’s Market Breadth Remains Healthy, Not Euphoric
Fig. 1: Nasdaq 100 component stocks above 20-day, 50-day & 200-day moving averages as of 7 May 2026 (Source: TradingView).
Even though in the past four weeks, the performance of the Nasdaq 100 has been primarily driven by several AI-related semiconductors and chip stocks such as Intel (+111%), SanDisk (+87%), and Advanced Micro Devices (+87%), the percentage of Nasdaq 100 component stocks trading above their respective 20-day and 50-day moving averages is steady at 61% and 59%, not yet at euphoric levels of 80%-90%.
In addition, the percentage of Nasdaq 100 component stocks trading above the key 200-day moving averages has increased steadily from 47% on 15 April 2026 to 57% as of Thursday, 7 May 2026 (below euphoric levels of 80%-90%), which indicates that a broader set of Nasdaq 100 is taking part in this ongoing rally since the end of March 2026 (see Fig. 1).
Let’s now focus on the short-term trajectory (1 to 3 days) of the US Nasdaq 100 CFD index (a proxy of the Nasdaq 100 E-mini futures).
Nasdaq 100 – Looking to Break Above 28,890 with Bullish Momentum
Fig. 2: US Nasdaq 100 CFD index minor trend as of 8 May 2026 (Source: TradingView).
Trend bias: Bullish above 28,280 short-term pivotal support within an uptrend phase (see Fig. 2).
Resistances: 28,860/890, 29,150, and 29,505/615
Next supports: 27,850, 27,540, and 27,255
Key Elements to Support the Near-Term Bullish Bias on the Nasdaq 100
- Price actions continue to oscillate within a medium-term ascending channel from the 31 March 2026 low.
- Current price actions of the Nasdaq 100 CFD index are trading at the upper half of the ascending channel, with the upper boundary of the channel coming in at around 29,505.
- The hourly MACD trend indicator has just flashed out a bullish crossover condition above its centreline.
Editorial note: This recovered market brief has been cleaned and reclassified by Next Move Markets for educational market intelligence. It is not investment advice.
Next Move Markets desk view
For active traders, this brief should be read through the lens of energy markets rather than as a standalone headline. The key question is whether the theme behind Chart Alert: Nasdaq 100 Bulls Still in Control Above 28,280 Key Support Amid US-Iran Tensions can influence positioning beyond the first reaction. That means watching supply headlines, inventory data, OPEC policy, transport routes and geopolitical risk together, not in isolation.
A richer trading read comes from separating the catalyst from confirmation. The catalyst explains why markets are paying attention; confirmation comes from price action, liquidity and cross-asset behavior after the headline is digested. If those signals do not align, traders should treat the move as fragile and keep risk tighter.
What traders should watch next
- Whether the headline changes physical supply expectations or only short-term sentiment.
- How Brent and WTI react around recent technical ranges after the first volatility spike.
- Inventory data, OPEC communication and shipping-route risk that can confirm the theme.
- Currency moves and global growth expectations that may offset energy-specific catalysts.
Risk context
This article is a market-intelligence brief, not a trade recommendation. Before acting on the theme, traders should define invalidation, position size and the time horizon of the setup. The same headline can support a short-term reaction and still fail as a multi-session trend if liquidity, policy expectations or broader sentiment move the other way.
Scenario map
The base case is that traders keep this theme on the radar while waiting for confirmation from supply headlines, inventory data, OPEC policy, transport routes and geopolitical risk. A stronger continuation scenario requires follow-through after the first reaction, preferably with related assets moving in the same direction. A failure scenario develops if the headline is quickly absorbed, volatility fades and price returns inside the previous range.
For energy markets, the most useful approach is to compare the article theme with live market behavior. If the market confirms the narrative, pullbacks can become more constructive. If the market rejects it, the headline becomes background noise rather than a trading driver.
Execution discipline
- Define the level first: traders should know where the idea is invalidated before thinking about upside or downside.
- Separate news from setup: Chart Alert: Nasdaq 100 Bulls Still in Control Above 28,280 Key Support Amid US-Iran Tensions may explain attention, but entry quality still depends on timing, liquidity and risk/reward.
- Watch confirmation: a clean move usually appears across related markets, not only in one isolated instrument.
- Control exposure: if volatility expands, smaller position sizing can be more professional than chasing the headline.
Next Move Markets treats this kind of brief as a starting point for preparation: identify the driver, map the scenarios, then wait for the market to prove which path is actually being priced.
