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Published: 23 September 2026,09:05
Daily Market Analysis New
*The Nasdaq Composite posted a second consecutive record close, supported by continued strength in AI and technology shares as investors maintained strong demand for growth stocks.
*The rally lost some momentum following President Trump’s strong remarks on Iran, highlighting the potential for geopolitical escalation to disrupt otherwise elevated risk appetite.
*Markets are now closely watching the Trump–Xi meeting in Washington, with potential progress on trade, tariffs and technology cooperation serving as key catalysts.
The Nasdaq Composite extended its advance to a fresh record closing high in the previous session, supported by continued strength in artificial intelligence and technology shares. The move marked a second consecutive record finish for the tech-heavy index and reflected sustained investor enthusiasm for growth stocks. However, the upward momentum moderated during the session following assertive remarks by U.S. President Donald Trump at the United Nations General Assembly, in which he stated that he could “annihilate” Iran if no deal is reached to resolve the ongoing conflict.
Despite the sharp geopolitical rhetoric, overall risk-on sentiment on Wall Street has remained elevated. Investors continue to focus on the highly anticipated meeting between President Trump and Chinese President Xi Jinping in Washington later this week. Market participants are positioning for potential progress on trade relations, tariff arrangements, and greater cooperation in the technology sector, areas that could provide further support for equity valuations if constructive outcomes emerge. The broader S&P 500 has also held near recent highs amid this backdrop of diplomatic anticipation.
In the near term, U.S. equities are likely to maintain a constructive bias as traders await the results of the Trump-Xi discussions. Positive signals on trade or technology collaboration could extend the current rally, particularly in Nasdaq-linked names. Conversely, any disappointment or escalation in geopolitical tensions following the summit would risk a sharper reassessment of risk appetite. Until clearer headlines emerge from the meeting, the market appears poised to trade with an optimistic lean supported by AI-driven momentum and summit expectations.
The Nasdaq has now pushed above its previous all-time high, marking a significant bullish development and confirming the continuation of its current upward trajectory. However, the latest price action suggests that bullish momentum is gradually easing as the index approaches and trades around this elevated price level.
The Nasdaq has surged strongly over the past few sessions, with the sharp advance creating a notable price imbalance. This imbalance could increase the likelihood of a technical retracement in the near term as the market attempts to rebalance the recent move and potentially fill the gap created by the rapid rally. Such a pullback would not necessarily invalidate the broader bullish structure, provided the index continues to maintain its key support levels.
The psychological support level at 30,000 is now an important area to watch. Should the Nasdaq remain above 30,000 during any potential retracement, the current bullish trajectory would remain intact and could provide a foundation for further upside momentum. Conversely, a decisive break below 30,000 could weaken the immediate bullish structure and increase the risk of a deeper technical correction.
Resistance Levels: 31375.00, 32,130.00
Support Levels30,283.00, 29,700.00
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