Nasdaq Futures Decline on AI Concerns, FOMC and Earnings in Focus

The NDX is nearing overbought territory with an RSI of 71, indicating potential for a short-term correction. News headlines point to a decline in futures amid AI concerns and expectations for the FOMC, which could limit upward momentum. However, the MACD remains positive, and the price is trading above the SMA20 and SMA50, suggesting a strong overall trend. Short-term direction is highly uncertain, with a sideways move or limited decline emerging as likely scenarios.

NVDA dropped 2.1% in the last 24 hours, mirroring the Nasdaq's decline driven by AI concerns. Although the RSI at 36 approaches oversold territory, it has yet to signal a recovery. The MACD line remains below the signal line and in negative territory, indicating weak short-term momentum. The stock is trading below both its 20-day and 50-day moving averages, painting a bearish technical picture. With the FOMC meeting and earnings expectations creating uncertainty, the downtrend may persist if AI sector concerns continue.

AAPL stock has shown strong short-term momentum, rising 3.86% in the last 24 hours. The RSI at 66.7 is approaching overbought territory but is not yet at dangerous levels. The MACD is above the signal line and in positive territory, supporting the upward trend. However, AI concerns in the news headlines and expectations for the FOMC could negatively impact overall market sentiment. Therefore, there is short-term directional uncertainty, and clearer catalysts are needed for the current rally to continue.

Although AMD stock is technically in a short-term uptrend (RSI at 60, MACD positive, price above SMA20 and SMA50), overall market sentiment is weak due to AI concerns in Nasdaq futures. The FOMC meeting and earnings expectations are creating uncertainty. Therefore, despite AMD's current technical strength, it is difficult to determine its short-term direction. Investors are advised to remain cautious and monitor the news flow.