Nasdaq 100 swings 2.07% intraday as tech stocks rebound from lows

The Nasdaq 100 swung 2.07% intraday on June 29, dropping to a low of 28,991.52 before recovering to close at 29,577.54, near the session high of 29,598.18.

The index opened at 29,310.26 and traded in a 606.66-point range, with buyers stepping in after the early selloff pushed the benchmark below the 29,000 level. The recovery erased most of the day's earlier losses, with the index closing 0.91% above its opening level.

Trading volume reached 705 million shares, as the wide intraday range showed heightened volatility in large-cap technology names. The session's price action reflected a sharp reversal from the morning's lows, with the Nasdaq 100 recovering more than 600 points from trough to peak. The move from session low to close represented a gain of roughly 2%, highlighting the strength of the afternoon recovery.

The 2.07% intraday amplitude shows the ongoing tug-of-war between sellers testing support near 29,000 and buyers defending that level as a key technical floor. The close near the session high suggests momentum shifted in favor of bulls by the afternoon, though the wide range leaves the near-term direction uncertain. Traders will watch whether the index can hold above 29,500 in the next session to confirm the reversal.

This article is for informational purposes only and does not constitute investment advice.