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17 June 2025,07:13

Daily Market Analysis

Nasdaq Rallies as Geopolitical Tensions Ease, Eyes on U.S. Retail Sales

17 June 2025, 07:13

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Key Takeaways:

*Nasdaq regained strength as the market shrugged off geopolitical tension sentiment in the Middle East.

*Eyes on today’s U.S. Retail Sales reading that could alter the market sentiment.

Market Summary:

The Nasdaq Composite rebounded sharply in the previous session, climbing nearly 300 points as Wall Street embraced a wave of optimism that swept across global equity markets. Investors shrugged off heightened geopolitical tensions between Israel and Iran, with both Asian and European markets also finishing broadly higher.

The rally gained traction after Iran signaled openness to resume nuclear negotiations—an overture that was later confirmed by U.S. President Donald Trump, who criticized the delayed diplomatic response but acknowledged the move as a step toward de-escalation.

The tech-heavy Nasdaq led gains among major U.S. indices, recouping prior losses and edging closer to its record high of 22,222.00. Sentiment was further supported by easing risk aversion and a return of dip-buying in growth-oriented sectors.

Investors are now pivoting toward today’s U.S. Retail Sales data, which could serve as a key catalyst. A softer-than-expected reading may bolster expectations for additional Fed rate cuts, potentially propelling the Nasdaq to test fresh record highs. However, any downside surprise could reintroduce caution, especially with geopolitical risks still simmering in the background.

Technical Analysis

Nasdaq, H4

The Nasdaq demonstrated impressive resilience following Friday’s 1% decline, quickly recovering from what now appears to have been a minor technical retracement. The index found firm footing above its previous consolidation range near 21,580 before surging nearly 300 points in the subsequent session, signaling renewed bullish conviction among investors.

This rebound has propelled the tech-heavy index back to the upper bounds of its recent trading range, leaving it just a stone’s throw away from challenging its all-time high of 22,222. A clean breakout above this psychologically important level would not only confirm the bullish momentum but could potentially open the door for further gains.

Technical indicators present a somewhat mixed but generally constructive picture. The RSI’s ability to hold above its midline and rebound suggests the underlying uptrend remains healthy, maintaining positive momentum. However, the MACD tells a slightly more cautious story, as it continues to drift toward the zero line without yet showing clear signs of reversal. This divergence implies that while the bullish bias persists, the upward thrust may be losing some steam in the near term.

Resistance levels:22,200.00, 23,600.00

Support levels: 20,990.00, 20,000.00

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