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US stock indices pull back amid concerns of overvaluation and AI hype cooling off.

Technical Signals
28 Apr 2026
FXEmpire
View Source
Neutral
pluang ai news

US stock indices including the Nasdaq 100, Dow Jones 30, and S&P 500 experienced slight pullbacks as investors reassess recent gains and market valuations. The Nasdaq 100, up about 14% since its low, faces pressure after OpenAI's admission that data center expansions are overstated, prompting expectations of a drop to around 26,250. The Dow Jones is consolidating between 49,000 and 50,000, showing neutral near-term outlook but bullish longer-term potential. The S&P 500 is retreating from all-time highs, with a key support level near 7,000; buying dips remains the favored strategy. These movements suggest a cooling off period that may offer buying opportunities for investors.

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