On March 10, 2026, the Nasdaq closed slightly higher, gaining 0.01% and finishing the day at 22,697.10. This closing value places the index just below its 100-day moving average of 22,702.42, indicating a critical juncture for traders and investors.

Oracle’s Earnings Report

Oracle reported its Q3 estimates, which exceeded expectations with revenue hitting $17.19 billion. This strong performance prompted Oracle to raise its total revenue outlook to $90 billion, a significant increase that reflects the company’s robust growth trajectory. Additionally, Oracle’s remaining performance obligations surged to $553 billion, up from $130 billion a year ago, showcasing its strong market position.

Technical Analysis of Nasdaq

The current trading environment for the Nasdaq indicates that the 200-hour moving average serves as an important resistance level. Analysts note that if the Nasdaq can hold above the 20-day exponential moving average (EMA) near 25,050, it would provide support for bullish traders. The key support level for Nasdaq futures is identified at 24,853, while the point of control (POC) is around 24,800, suggesting heavy participation at that price level.

Market Sentiment and Future Outlook

The bullish-to-bearish imbalance for QQQM options was approximately 71.8% to 28.2% on March 10, indicating a prevailing bullish sentiment among traders. However, the Nasdaq is currently trading below the volume-weighted average price (VWAP) at $250.97, which may raise concerns among investors. Analysts have pointed out that if the price breaks below 249.28, the bullish sentiment could be largely invalidated.

Analyst Insights

Analysts have commented on the market’s recent behavior, noting, “The bearish tilt was real, but thanks to Oracle’s cloud muscle and some geopolitical hopium, the ‘fakie’ is currently in full effect.” They suggest that if the Nasdaq continues to hold above the EMA 20 and the POC, a move toward 25,650 becomes increasingly realistic. However, they also caution that as long as the price remains below the 100-hour moving average, sellers maintain the near-term technical advantage.

Geopolitical Considerations

The recent market action suggests that while bearish sentiment was strong, there may be a recovery in the Nasdaq due to positive earnings from Oracle. Nevertheless, the impact of geopolitical events on market sentiment remains unclear, adding an element of uncertainty to the market’s trajectory.

Current State and Implications

As of now, the Nasdaq’s performance reflects a complex interplay of positive corporate earnings and broader market challenges. Investors are closely monitoring upcoming economic data releases, which could significantly influence the future direction of the Nasdaq. Details remain unconfirmed regarding how these factors will play out in the coming weeks.

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