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Published: 27 July 2026,05:53
Daily Market Analysis New
*Nasdaq futures edged higher during the Asian session after the U.S. and Iran refrained from further military escalation.
*CXMT’s strong Shanghai debut, with shares surging more than 400%, boosted optimism across the semiconductor sector and could help lift sentiment for chipmakers such as Micron and SK Hynix.
*Lower oil prices and a weaker dollar provide support for technology stocks, but the sustainability of the rebound will depend on continued geopolitical stability and upcoming macroeconomic data.
Nasdaq futures displayed signs of relief during the Asian session after reports that the United States and Iran refrained from further retaliatory attacks in the region. This development reduced immediate geopolitical risk premiums and encouraged a more constructive tone across risk assets. The shift in sentiment contributed to a gap lower in the U.S. dollar at the market open, alongside a decline in crude oil prices, as traders scaled back concerns over potential energy supply disruptions.
These moves create a supportive backdrop for U.S. equities, particularly the technology-heavy Nasdaq, which had previously slid to a two-month low amid broader risk-off pressures. A softer dollar and reduced inflation risks from lower oil prices may help alleviate some of the valuation pressures on growth stocks. Market participants will be watching whether this relief extends into the cash session and helps stabilize sentiment after recent weakness.
Adding to the positive tone in the technology space, Chinese memory chip manufacturer CXMT made its debut on the Shanghai tech board and saw its share price surge by more than 400%. The strong reception has generated notable hype within the memory chip sector and may help reverse some of the bearish sentiment that has weighed on peers such as SK Hynix and Micron in recent sessions. Both companies had experienced significant selling pressure, reflecting cyclical concerns and broader technology sector caution. A revival in regional chip stocks could provide a spillover lift to related names on the Nasdaq and improve overall sector positioning.
In the near term, U.S. equities face a more balanced set of forces. Geopolitical calm and potential semiconductor sector optimism offer upside support, while residual caution around trade policy, corporate earnings, and macroeconomic data remains. The Nasdaq’s ability to hold and build on the futures rebound will depend on whether the de-escalation narrative holds and whether chip-related optimism translates into broader buying interest. Investors should monitor oil prices, dollar movements, and any follow-through in Asian semiconductor markets for further direction.
Technical Analysis
Nasdaq Composite remains under pressure, with the index continuing to trade below its long-term descending trendline after forming a double-top pattern near its all-time high. This bearish reversal pattern suggests that upside momentum has faded, with sellers gradually regaining control of the market.
The latest price action also shows the index forming a series of lower lows, reinforcing the prevailing bearish market structure and confirming that the broader downtrend remains intact. This sequence of lower lows indicates that selling pressure continues to outweigh buying interest.
The immediate resistance level to watch is 28,630. A rejection at this level would reaffirm the validity of the descending trendline resistance and strengthen the case for a continuation of the current bearish trend.
Should Nasdaq fail to break above 28,630, the index is likely to extend its decline, with the next major downside target located at the key 27,000 psychological support level. A move toward this level would be consistent with the prevailing bearish technical structure and could attract renewed market attention.
Resistance Levels: 28,630.00, 29,300.00
Support Levels: 27,800.00, 27,000.00
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