NASDAQ 100 gaps up on two-week ceasefire but traders take profit

The NASDAQ 100 (US Tech 100) gapped up 3.5% at the open after news of a two-week ceasefire between the US and Iran, the index’s biggest single-session jump since May 12, 2025, as oil-related geopolitical risk eased. Oil (WTI) plunged about 15% on the news, prompting a risk-on rally in equities, though profit-taking trimmed the index’s advance to a 2.4% gain by mid-session. Technically, the index now trades above its 50-day SMA and sits roughly 5% shy of its all-time high; resistance lies near 25,180–25,330 while the 200-day SMA near 24,500 offers firmer support. The piece leans bullish on a gradual recovery toward the October 2025 high if the 50-day holds, but warns that lingering hostilities and elevated oil prices keep downside risks alive.