Nasdaq Next 100 sits on key support as tech risk appetite faces a test
Technical analyst Andrew Thrasher says the Nasdaq Next 100 is nearing its summer support levels, while the mega-cap QQQ has already broken below them.
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what happened
According to technical analyst Andrew Thrasher, the Nasdaq Next 100 has moved to the edge of its key summer support levels, a test of investor appetite for risk. The Invesco Nasdaq Next Gen 100 ETF trades near $44 per share and is testing the horizontal price floor that held the fund throughout the summer. He made the point in a social media post.
The mega-cap segment looks weaker. QQQ has fallen below its earlier consolidation zones, and its weekly RSI dropped to 44.49. The Next 100 has not suffered a similar breakdown, but its weekly RSI stands at 50.58 and is pressing against a downward resistance trendline. A break below summer support would signal that weakness is spreading into mid-cap growth names.
The article also lists the top ten holdings of the QQQJ fund as of Monday, including Natera, eBay and Revolution Medicines, with weights of roughly 1.75% to 2.79% of net assets.
why it matters
The key question for markets is whether the weakness spreads from mega-cap tech into the broader growth segment. That would affect US equities overall and funds focused on mid-sized companies.
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- Nasdaq Next 100 teeters on key support as tech risk appetite tested — Seeking Alpha, 3 November 2026 at 19:57 UTC
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