Nasdaq-100 Index Hits 18466.64 with 812.25 Points Range on August 8, 3.354% Rise and 18573 Fair Value

The Nasdaq-100 Index ($NDX) experienced significant fluctuations this week, with notable trading ranges recorded. On August 8, the index showed a range of 812.25 points, following previous days with ranges of 1039 points on Monday, 517.25 points on Tuesday, and 722.25 points on Wednesday. The index closed at 18466.64, with a fair value for the futures contract ($NQ_F) estimated at approximately 18573. The market displayed a momentum divergence double bottom bounce on August 5, indicating a potential recovery as it traded back inside the Linear Regression channel. Analysts noted that the market is approaching key resistance levels, with 18529.75 identified as a 30-day resistance point. The market's performance appears influenced by recent earnings reports, contributing to a rise of about 3.354% from previous lows. Traders are monitoring critical levels, including 563 and 406, which are seen as pivotal for future movements.