As the trading day began on March 10, 2026, the Nasdaq was positioned just below its 100-day moving average, creating a sense of anticipation among investors. The index closed slightly higher with a gain of 0.01%, finishing the day at 22,697.10. This modest increase came amid a backdrop of fluctuating market conditions influenced by various economic factors.

Oracle’s Earnings Report

Oracle’s recent earnings report played a pivotal role in shaping market sentiment. The company reported Q3 estimates that exceeded expectations, with revenue hitting $17.19 billion. Furthermore, Oracle raised its total revenue outlook to $90 billion, a move that has garnered positive attention from analysts and investors alike. The increase in Oracle’s remaining performance obligations (RPO) to $553 billion from $130 billion a year ago further solidified its strong position in the market.

Technical Analysis of Nasdaq

From a technical standpoint, the Nasdaq’s performance is being closely monitored. The index is currently trading below the volume-weighted average price (VWAP) at $250.97, indicating a cautious sentiment among traders. Analysts have pointed out that the key support level for Nasdaq futures is at 24,853, while holding above the 20-day exponential moving average (EMA) near 25,050 could provide crucial support for bullish traders.

Market Sentiment and Analyst Insights

Market analysts have noted a shift in sentiment, with a bullish-to-bearish imbalance for QQQM options recorded at approximately 71.8% to 28.2% on March 10. One analyst commented, “The bearish tilt was real, but thanks to Oracle’s cloud muscle and some geopolitical hopium, the ‘fakie’ is currently in full effect.” This suggests that while bearish sentiment was prevalent, Oracle’s strong performance may have provided a catalyst for recovery.

Resistance Levels and Future Outlook

Despite the positive developments, the Nasdaq faces significant resistance levels. Analysts have indicated that as long as the price remains below the 100-hour moving average, sellers maintain the near-term technical advantage. However, if the Nasdaq continues to hold above the EMA 20 and the point of control (POC) around 24,800, a move toward 25,650 becomes increasingly realistic.

Geopolitical Factors and Market Volatility

The market’s recent volatility has also been influenced by geopolitical events, with analysts noting that the market sold off sharply during the shakeout tied to oil-price fluctuations. However, the weakness did not last long, indicating a resilient market response. The impact of these geopolitical events on market sentiment remains unclear, and details remain unconfirmed.

Current State and Implications

As of now, the Nasdaq stands at a critical juncture, with its current trading position reflecting a mix of cautious optimism and underlying volatility. Investors are keenly observing upcoming economic data releases, which may further influence the index’s direction. The interplay between Oracle’s strong earnings and broader market conditions will be essential in determining the Nasdaq’s trajectory in the coming days.

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