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Nasdaq 100 steadies after AI revenue fears; semiconductor gains hint at more upside

Technical Signals
29 Apr 2026
Seeking Alpha
View Source
Bullish
pluang ai news

The Nasdaq 100 index stabilized after a brief sell-off caused by concerns over OpenAI's revenue, indicating that fears of an "AI bubble" are not yet confirmed by technical indicators. The Philadelphia Semiconductor Index (SOX) continues to lead with strong gains, and momentum remains below dot-com bubble levels without bearish signs, suggesting potential for further growth. The Nasdaq 100 is trading within an upward channel, supported by solid market breadth and bullish momentum, with the 26,760 level critical for maintaining near-term gains. This signals cautious optimism for investors watching tech and semiconductor sectors.

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