NAS100 weekly: tech index holds 29,388 after volatile swing, 2026-06-08
Where NAS100 closed the week
The tech-heavy index opened Monday at 29040.97 and closed Friday at 29388.07, posting a net gain of 347 points or 1.2%. The week saw significant volatility with a high of 29807.51 on Tuesday and a low of 28188.19, creating a 1,619-point trading range. Volume averaged 283,764 contracts through Thursday before dropping to 59,093 on Friday's half-day session.
What moved price
Tuesday's sharp selloff from 29807 to 28188 marked the week's defining move, with the index shedding over 1,600 points intraday. The recovery began Wednesday as buyers stepped in near 28230, pushing price back above 29500 by Thursday's close at 29550.30.
Friday's quieter action saw the index consolidate in a tight 265-point range, suggesting traders squared positions ahead of the weekend. The ability to hold above 29350 after such a volatile midweek swing points to underlying bid support.
The week ahead
No major economic events are scheduled for the upcoming week according to the bundle data. This calendar vacuum typically leads to technical trading, where support and resistance levels gain added importance. Watch for any surprise announcements that could inject volatility into this quiet period.
Positioning
Current positioning shows 54.9% of LHFX traders are long NAS100 versus 45.1% short as of June 12. This modest long bias reflects cautious optimism after the week's recovery. The relatively balanced positioning suggests room for movement in either direction without triggering a crowded-trade unwind.
Levels to watch
If NAS100 breaks above Tuesday's high at 29807.51, the psychological 30000 level comes into focus. A rejection there could see price test Thursday's pivot at 29550. Below current levels, the week's low at 28188.19 marks critical support. A close under 28200 would shift the technical picture bearish.
Byline: LHFX Research
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