![\"\"](\"https:\/\/insights.onequity.com\/wp-content\/uploads\/2026\/01\/09Jan-NDQ-relative.png\")
TECHNICAL ANALYSIS<\/strong><\/p>\n\n\n\n From a technical perspective, the chart in this case is less orderly than the one analyzed yesterday (EUR\/JPY). While a trend can be identified, it is equally true that multiple false breakouts have occurred, ultimately reducing the clarity of the overall structure. This provides a useful opportunity to highlight that, in technical analysis, certain instruments tend to \u201crespect\u201d specific patterns more consistently (for example, fixed income and FX futures), while others do so to a lesser extent\u2014most notably smaller-cap equities, but also secondary commodity markets such as agricultural products.<\/p>\n\n\n\n Turning back to the US100, what has been taking shape over recent months\u2014since October\u2014is a triangular consolidation pattern (somebody would call it a flag), the resolution of which will determine whether the next directional move is bullish or bearish. The pattern is approaching maturity, as the distance between the upper and lower boundaries continues to narrow and is expected to fully converge by the fourth week of January (January 23, according to our chart). At present, the relevant range is defined by 25,600 on the upside and 25,050 on the downside. With the index currently trading at 25,515, price action is notably closer to the upper boundary of the triangle, implying a less attractive (i.e., tighter) risk\u2013reward profile for long positions and a relatively more favorable setup on the short side.<\/p>\n\n\n\n Additional key technical levels to monitor are 25,835 on the upside (+1.25%) and 24,625 on the downside (-3.48%).<\/p>\n\n\n\n That said, as with many other instruments in the current environment, we continue to recommend caution and patience. The U.S. technology market is coming off a very strong year, is trading at elevated levels, and may require a period of consolidation. Whether this pause ultimately resolves into a continuation of the upward trend or a corrective phase before a renewed advance will likely become clearer over the coming weeks.<\/p>\n","protected":false},"excerpt":{"rendered":" With each passing day, the focus for the coming months appears to be increasingly shifting toward companies within the industrial […]<\/p>\n","protected":false},"author":8,"featured_media":104002,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[2932],"tags":[699,1113,1080],"class_list":["post-107271","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technical","tag-nasdaq","tag-us100","tag-us30"],"acf":[],"yoast_head":"\n![\"\"](\"https:\/\/insights.onequity.com\/wp-content\/uploads\/2026\/01\/09Jan-NDQ-Daily.png\")