Nasdaq 100 Flashes Warning Signs After 5-Day Slide: Is The Tech Rally Running Out Of Steam?
The Nasdaq 100 index tracker, I nvesco QQQ Trust ETF (NASDAQ: QQQ ), collapsed to $706.52 on Friday, staging a sharp 4.60% five-day drop that leaves the index flashing critical technical warning signs. The rejection of its recent peak at $745.45 raises an urgent question for Wall Street: Is the tech rally running out of steam? Crucial Support Under Siege The recent slide has pushed QQQ below its 20-day simple moving average (SMA) of $724.72, threatening a larger trend reversal, according to Pro. Bearish momentum is accelerating as the MACD indicator undergoes a negative crossover, while the RSI has plunged to 46.45. Traders are now eyeing the immediate floor at the 50-day SMA of $702.78. A definitive close below this crucial support could trigger systematic liquidation toward the 100-day SMA at $651.76. The 10 best-performing stocks in the Nasdaq 100 in 2026. Sandisk $SNDK, Micron $MU...
60% five-day drop that leaves the index flashing critical technical warning signs. 45 raises an urgent question for Wall Street: Is the tech rally running out of steam? 72, threatening a larger trend reversal, according to Pro. 45.
78. 76. The 10 best-performing stocks in the Nasdaq 100 in 2026. Sandisk $SNDK, Micron $MU and Intel $INTC lead the way.
com/kiwFHDEPWK - Phil Rosen (@philrosenn) June 28, 2026 Read Also: After The June Swoon, Could July Deliver A Breakout Rally? Carson Group Strategist Ryan Detrick Says This Rare S&P 500 Signal Has Never Failed Unprecedented Volatility Disconnect While tech indexes slip, options markets are flashing signals unseen since the dot-com era. According to The Kobeissi Letter, the spread between the tech-heavy volatility index ($VXN) and the broader market counterpart ($VIX) has blown out to 12 points—the highest in at least 23 years. This gap eclipses the peaks seen during the 2008 Financial Crisis and the 2020 pandemic.
” The 10 best-performing stocks in the Nasdaq 100 in 2026. Sandisk $SNDK, Micron $MU and Intel $INTC lead the way. com/kiwFHDEPWK - Phil Rosen (@philrosenn) June 28, 2026 This structural anxiety is compounded by immense sector concentration, with semiconductor giants like SanDisk Corp. (NASDAQ: SNDK ), Micron Technology Inc.
(NASDAQ: MU ), and Intel Corp. (NASDAQ: INTC ) completely dominating the index’s top performers list. The 10 best-performing stocks in the Nasdaq 100 in 2026. Sandisk $SNDK, Micron $MU and Intel $INTC lead the way.
com/kiwFHDEPWK - Phil Rosen (@philrosenn) June 28, 2026 Fundamental Backstop Despite the steep technical correction and record-high fear gauges, underlying corporate fundamentals remain exceptionally strong. Data from Goldman Sachs, shared by Mark Zaccardi on X, shows that “Nasdaq 100 EPS growth expected to be +43% this year,” comfortably beating the broader S&P 500 consensus of 24%. While technical lines are fracturing in the near term, this stellar bottom-up earnings performance suggests that the current pullback may ultimately be a violent valuation reset rather than a structural bear market. The 10 best-performing stocks in the Nasdaq 100 in 2026.
Sandisk $SNDK, Micron $MU and Intel $INTC lead the way. com/kiwFHDEPWK - Phil Rosen (@philrosenn) June 28, 2026 How Have Markets Performed In 2026? 23% year-to-date. 22% YTD.
The SPDR S&P 500 ETF Trust (NYSE: SPY ) and QQQ, which track the S&P 500 and Nasdaq 100, respectively, closed lower on Friday. 52. 29% lower on Friday. Read Also: The Nasdaq 100 Has Tripled Since 2020, But These 10 Mega-Caps Are Still Underwater Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published editors.
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