NAS100 clears EMA50 at 29417 as momentum builds

The NAS100 tape has quietly dismantled a string of prior resistance levels that defined a bearish regime just days ago, and momentum is now testing whether buyers can extend the advance.

The index gained 0.42% on the day and is up more than 2.7% over the past week, trading inside a 29414.75 to 29609.85 range. No single macro catalyst dominated the session, but the prior-context picture is telling: successive resistance shelves have been cleared, flipping what was a bearish structure into contested territory that now leans constructive.

From a trend-following lens, the setup is cautiously positive. Price sits above EMA50 at 29417.50 and EMA200 at 29149.87, with EMA20 at 29086.33 providing a deeper cushion below. The 1H trend is up though the 4H and daily remain neutral, keeping trend alignment mixed. RSI is neutral without being stretched, and volatility is elevated, meaning position sizing matters more than usual. Resistance sits at 29683.10 first, with 29803.70 and 29913.70 as the next logical offers if bulls extend. The analytics signal is bullish but carries low confidence, so we respect the tape and stay measured.

We lean long on dips into the 29417–29548 zone where EMA50 and current price converge with intraday demand. A daily close below 29340 support invalidates the bullish read and forces a full reassessment.